Liquidity Services, Inc. (LQDT) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Liquidity Services, Inc. (NASDAQ:LQDT) from a sell rating to a hold rating in a research note published on Wednesday.
According to Zacks, “Liquidity Services, Inc. is a leading online auction marketplace for wholesale, surplus and salvage assets. LSI enables its corporate and government sellers to enhance their financial return on excess assets by providing a liquid marketplace and value-added services that integrate sales and marketing, logistics and transaction settlement into a single offering. LSI has developed and deployed highly successful online sales programs on a significant scale for clients including large corporations and government agencies to maximize the market reach and recovery value of surplus assets in a timely manner. “
Several other brokerages also recently commented on LQDT. Robert W. Baird restated a neutral rating on shares of Liquidity Services in a research report on Monday, July 3rd. ValuEngine upgraded shares of Liquidity Services from a strong sell rating to a sell rating in a research report on Friday, September 1st.
Liquidity Services (NASDAQ:LQDT) opened at 6.00 on Wednesday. Liquidity Services has a 52-week low of $5.50 and a 52-week high of $10.50. The stock’s 50 day moving average is $5.82 and its 200-day moving average is $6.59. The stock’s market capitalization is $189.02 million.
Liquidity Services (NASDAQ:LQDT) last announced its quarterly earnings data on Thursday, August 3rd. The business services provider reported ($0.22) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.03. The firm had revenue of $65.50 million for the quarter, compared to the consensus estimate of $79.56 million. Liquidity Services had a negative net margin of 27.52% and a negative return on equity of 16.59%. The company’s revenue was down 23.1% on a year-over-year basis. During the same period last year, the firm earned $0.07 EPS. Equities research analysts anticipate that Liquidity Services will post ($0.91) EPS for the current fiscal year.
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In other news, insider James M. Rallo sold 15,270 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $5.80, for a total transaction of $88,566.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Roger Gravley sold 8,545 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $5.80, for a total transaction of $49,561.00. Following the sale, the insider now owns 9,702 shares in the company, valued at $56,271.60. The disclosure for this sale can be found here. 22.30% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Arizona State Retirement System raised its position in shares of Liquidity Services by 1.6% during the 1st quarter. Arizona State Retirement System now owns 12,737 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 200 shares during the period. Public Employees Retirement System of Ohio grew its stake in Liquidity Services by 16.2% during the first quarter. Public Employees Retirement System of Ohio now owns 13,017 shares of the business services provider’s stock valued at $104,000 after acquiring an additional 1,816 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in Liquidity Services by 5.2% during the first quarter. Thrivent Financial For Lutherans now owns 13,770 shares of the business services provider’s stock valued at $110,000 after acquiring an additional 680 shares in the last quarter. Citadel Advisors LLC grew its stake in Liquidity Services by 57.3% during the first quarter. Citadel Advisors LLC now owns 17,141 shares of the business services provider’s stock valued at $137,000 after acquiring an additional 6,241 shares in the last quarter. Finally, Texas Permanent School Fund grew its stake in Liquidity Services by 1.2% during the second quarter. Texas Permanent School Fund now owns 17,931 shares of the business services provider’s stock valued at $114,000 after acquiring an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 67.55% of the company’s stock.
About Liquidity Services
Liquidity Services, Inc operates a network of e-commerce marketplaces that enable buyers and sellers to transact in an automated environment. The Company employs e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government clients. The Company’s marketplaces provide professional buyers access to a global supply of new, surplus and scrap assets presented with digital images and other relevant product information.
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