Liquidity Services, Inc. $LQDT Shares Newly Purchased by ProShare Advisors LLC

ProShare Advisors LLC purchased a new stake in Liquidity Services, Inc. (NASDAQ:LQDT) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 51,448 shares of the business services provider’s stock, valued at approximately $2,204,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Persistent Asset Partners Ltd purchased a new stake in shares of Liquidity Services during the 2nd quarter valued at approximately $35,000. Quantbot Technologies LP acquired a new stake in Liquidity Services during the second quarter worth $53,000. USA Financial Formulas purchased a new stake in Liquidity Services in the third quarter valued at $83,000. Meeder Asset Management Inc. purchased a new stake in Liquidity Services in the first quarter valued at $97,000. Finally, Fifth Third Bancorp lifted its stake in shares of Liquidity Services by 4,505.7% in the 1st quarter. Fifth Third Bancorp now owns 3,224 shares of the business services provider’s stock valued at $99,000 after purchasing an additional 3,154 shares during the last quarter. Institutional investors and hedge funds own 71.15% of the company’s stock.

Wall Street Analyst Weigh In

LQDT has been the subject of a number of research analyst reports. Barrington Research set a $50.00 price target on Liquidity Services in a report on Friday, August 7th. Weiss Ratings upgraded shares of Liquidity Services from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Wall Street Zen raised shares of Liquidity Services from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Finally, Zacks Research lowered shares of Liquidity Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

Liquidity Services Price Performance

Shares of LQDT stock traded down $1.08 on Friday, hitting $43.64. The stock had a trading volume of 506,355 shares, compared to its average volume of 228,475. The firm has a market capitalization of $1.37 billion, a P/E ratio of 42.78 and a beta of 1.06. The company’s 50 day moving average price is $43.13 and its 200-day moving average price is $37.26. Liquidity Services, Inc. has a 1 year low of $22.03 and a 1 year high of $47.31.

Liquidity Services (NASDAQ:LQDT) last posted its quarterly earnings data on Thursday, August 6th. The business services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.11. Liquidity Services had a return on equity of 17.60% and a net margin of 6.79%. The business had revenue of $129.58 million for the quarter, compared to analyst estimates of $57.83 million. On average, equities analysts forecast that Liquidity Services, Inc. will post 1.16 EPS for the current year.

Insider Activity

In related news, EVP John Daunt sold 715 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $42.75, for a total value of $30,566.25. Following the transaction, the executive vice president directly owned 38,086 shares of the company’s stock, valued at $1,628,176.50. This trade represents a 1.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 28.06% of the company’s stock.

Liquidity Services Profile

Liquidity Services, Inc operates online marketplaces and related services for buying and selling surplus, returned, and otherwise excess assets. The company connects governments, businesses, and other organizations with buyers seeking products ranging from consumer goods and industrial equipment to vehicles, heavy machinery, and other capital assets.

Its platforms include GovDeals, which serves public-sector sellers; Liquidation.com, which facilitates the sale of surplus and returned inventory; and Machinio, a marketplace focused on used equipment.