Liquidity Services (NASDAQ:LQDT) issued its quarterly earnings results on Thursday. The business services provider reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.19, Bloomberg Earnings reports. Liquidity Services had a negative return on equity of 21.96% and a negative net margin of 14.51%. The business had revenue of $61.14 million for the quarter, compared to analyst estimates of $65.42 million. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. The company’s revenue was down 13.6% on a year-over-year basis. Liquidity Services updated its Q2 guidance to ($0.23)-($0.16) EPS.

Shares of Liquidity Services (NASDAQ:LQDT) traded up $1.00 during mid-day trading on Thursday, hitting $5.80. The stock had a trading volume of 128,569 shares, compared to its average volume of 120,280. Liquidity Services has a 1-year low of $4.34 and a 1-year high of $9.95. The stock has a market capitalization of $153.29, a price-to-earnings ratio of -3.87 and a beta of 0.89.

Separately, Zacks Investment Research upgraded Liquidity Services from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th.

Several hedge funds have recently modified their holdings of LQDT. Renaissance Technologies LLC grew its stake in shares of Liquidity Services by 22.0% during the second quarter. Renaissance Technologies LLC now owns 1,981,239 shares of the business services provider’s stock worth $12,581,000 after acquiring an additional 357,240 shares during the last quarter. Roumell Asset Management LLC boosted its position in Liquidity Services by 39.9% in the third quarter. Roumell Asset Management LLC now owns 875,871 shares of the business services provider’s stock valued at $5,168,000 after buying an additional 249,611 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Liquidity Services by 15.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,038,515 shares of the business services provider’s stock valued at $6,127,000 after buying an additional 135,532 shares during the last quarter. Staley Capital Advisers Inc. boosted its position in Liquidity Services by 2.0% in the third quarter. Staley Capital Advisers Inc. now owns 2,575,000 shares of the business services provider’s stock valued at $15,192,000 after buying an additional 50,000 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in Liquidity Services by 64.5% in the third quarter. New York State Common Retirement Fund now owns 59,255 shares of the business services provider’s stock valued at $350,000 after buying an additional 23,227 shares during the last quarter. Institutional investors and hedge funds own 65.89% of the company’s stock.

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Liquidity Services Company Profile

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.

Earnings History for Liquidity Services (NASDAQ:LQDT)

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