Municipal Employees Retirement System of Michigan purchased a new position in Liquidity Services, Inc. (NASDAQ:LQDT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,330 shares of the business services provider’s stock, valued at approximately $45,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund bought a new stake in shares of Liquidity Services during the fourth quarter worth $62,000. SG Americas Securities LLC bought a new stake in shares of Liquidity Services during the fourth quarter worth $68,000. LS Investment Advisors LLC lifted its position in shares of Liquidity Services by 1,442.5% during the fourth quarter. LS Investment Advisors LLC now owns 13,142 shares of the business services provider’s stock worth $81,000 after purchasing an additional 12,290 shares during the last quarter. Magnus Financial Group LLC bought a new stake in shares of Liquidity Services during the fourth quarter worth $82,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Liquidity Services during the fourth quarter worth $169,000. Institutional investors own 65.05% of the company’s stock.
In other Liquidity Services news, Director George H. Ellis sold 10,500 shares of Liquidity Services stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $6.71, for a total value of $70,455.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James M. Rallo sold 4,908 shares of Liquidity Services stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $6.93, for a total value of $34,012.44. Following the completion of the transaction, the insider now owns 4,908 shares in the company, valued at approximately $34,012.44. The disclosure for this sale can be found here. Company insiders own 18.70% of the company’s stock.
Shares of Liquidity Services stock opened at $6.48 on Friday. The firm has a market cap of $215.83 million, a PE ratio of -12.96 and a beta of 1.16. Liquidity Services, Inc. has a 12 month low of $5.17 and a 12 month high of $9.16.
Liquidity Services (NASDAQ:LQDT) last announced its quarterly earnings results on Thursday, February 7th. The business services provider reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.04. The firm had revenue of $54.05 million for the quarter, compared to analyst estimates of $51.34 million. Liquidity Services had a negative return on equity of 11.08% and a negative net margin of 7.70%. As a group, analysts forecast that Liquidity Services, Inc. will post -0.41 EPS for the current year.
Several research firms have recently weighed in on LQDT. BidaskClub downgraded Liquidity Services from a “buy” rating to a “hold” rating in a research report on Tuesday, January 22nd. Zacks Investment Research upgraded Liquidity Services from a “sell” rating to a “hold” rating in a research note on Thursday, February 7th. ValuEngine upgraded Liquidity Services from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Barrington Research restated a “buy” rating and set a $10.00 price target on shares of Liquidity Services in a research note on Monday, February 11th. Finally, TheStreet lowered Liquidity Services from a “c” rating to a “d+” rating in a research note on Monday, April 15th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $9.13.
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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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