Liquidity Services (LQDT) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Liquidity Services (NASDAQ:LQDT) from a hold rating to a buy rating in a research note published on Friday.

LQDT has been the subject of several other research reports. ValuEngine raised Liquidity Services from a sell rating to a hold rating in a report on Friday, October 12th. Barrington Research reissued a buy rating and set a $10.00 price objective on shares of Liquidity Services in a report on Monday, December 3rd. TheStreet raised Liquidity Services from a d rating to a c- rating in a report on Wednesday, December 12th. Finally, Zacks Investment Research downgraded Liquidity Services from a strong-buy rating to a hold rating in a research report on Thursday, October 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $9.13.

Shares of LQDT opened at $7.99 on Friday. The stock has a market capitalization of $250.73 million, a P/E ratio of -15.98 and a beta of 0.82. Liquidity Services has a fifty-two week low of $4.70 and a fifty-two week high of $8.06.

Liquidity Services (NASDAQ:LQDT) last posted its earnings results on Thursday, December 6th. The business services provider reported ($0.14) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.14). The business had revenue of $52.71 million during the quarter, compared to analyst estimates of $48.36 million. Liquidity Services had a negative return on equity of 11.97% and a negative net margin of 5.60%. As a group, analysts forecast that Liquidity Services will post -0.34 earnings per share for the current year.

In related news, insider James M. Rallo sold 9,816 shares of the business’s stock in a transaction that occurred on Thursday, January 10th. The stock was sold at an average price of $7.65, for a total value of $75,092.40. Following the completion of the sale, the insider now owns 9,816 shares in the company, valued at approximately $75,092.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James M. Rallo sold 4,090 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $6.12, for a total value of $25,030.80. Following the completion of the sale, the insider now owns 4,090 shares of the company’s stock, valued at approximately $25,030.80. The disclosure for this sale can be found here. Insiders sold a total of 18,691 shares of company stock valued at $133,570 in the last 90 days. 22.10% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its position in Liquidity Services by 7.4% in the 3rd quarter. Legal & General Group Plc now owns 55,942 shares of the business services provider’s stock worth $355,000 after buying an additional 3,865 shares during the last quarter. Aristotle Capital Boston LLC lifted its position in Liquidity Services by 2.7% in the 3rd quarter. Aristotle Capital Boston LLC now owns 326,832 shares of the business services provider’s stock worth $2,075,000 after buying an additional 8,452 shares during the last quarter. Northern Trust Corp lifted its position in Liquidity Services by 3.0% in the second quarter. Northern Trust Corp now owns 353,820 shares of the business services provider’s stock valued at $2,317,000 after purchasing an additional 10,399 shares during the last quarter. Renaissance Technologies LLC lifted its position in Liquidity Services by 0.8% in the second quarter. Renaissance Technologies LLC now owns 2,184,196 shares of the business services provider’s stock valued at $14,306,000 after purchasing an additional 17,307 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in Liquidity Services by 23.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 130,111 shares of the business services provider’s stock valued at $853,000 after purchasing an additional 24,529 shares during the last quarter. Institutional investors own 65.23% of the company’s stock.

About Liquidity Services

Liquidity Services, Inc provides e-commerce marketplace that enable buyers and sellers to transact in an automated environment offering approximately 500 product categories. The company's marketplaces include liquidation.com that enable corporations to sell surplus and salvage consumer goods and capital assets; govdeals.com that enables local and state government entities, including city, county, and state agencies to sell surplus and salvage assets, as well as offers a suite of services that includes asset sales and marketing, and seller self-service; and auctiondeals.com, a self-service solution, which enable sellers list their own assets, and enable commercial businesses to sell surplus and salvage assets.

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