Liquidity Services, Inc. $LQDT Position Lessened by Sterling Capital Management LLC

by · The Markets Daily

Sterling Capital Management LLC decreased its stake in shares of Liquidity Services, Inc. (NASDAQ:LQDT – Free Report) by 97.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 790 shares of the business services provider’s stock after selling 27,536 shares during the period. Sterling Capital Management LLC’s holdings in Liquidity Services were worth $34,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of LQDT. Persistent Asset Partners Ltd acquired a new position in shares of Liquidity Services during the 2nd quarter valued at $35,000. Quantbot Technologies LP bought a new stake in Liquidity Services in the second quarter valued at $53,000. USA Financial Formulas bought a new stake in Liquidity Services in the third quarter valued at $83,000. Meeder Asset Management Inc. acquired a new position in shares of Liquidity Services during the first quarter valued at about $97,000. Finally, Fifth Third Bancorp raised its holdings in shares of Liquidity Services by 4,505.7% during the first 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 period. Institutional investors own 71.15% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Weiss Ratings upgraded Liquidity Services from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Wall Street Zen raised Liquidity Services from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. Zacks Research lowered Liquidity Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. Finally, Barrington Research set a $50.00 price objective on Liquidity Services in a research note on Friday, August 7th. Two equities research 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 stock has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Read Our Latest Research Report on Liquidity Services

Liquidity Services Stock Performance

Shares of LQDT opened at $44.72 on Friday. The stock has a 50 day moving average price of $43.09 and a two-hundred day moving average price of $37.20. The firm has a market capitalization of $1.40 billion, a P/E ratio of 43.84 and a beta of 1.06. Liquidity Services, Inc. has a 52 week low of $21.67 and a 52 week high of $47.31.

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

Insider Buying and Selling

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

About Liquidity Services

(Free Report)

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.

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