Zacks Investment Research upgraded shares of Liquidity Services (NASDAQ:LQDT) from a sell rating to a hold rating in a report published on Thursday morning.
According to Zacks, “Liquidity Services, Inc. employs innovative e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government clients. The company operates a network of leading e-commerce marketplaces that enable buyers and sellers to transact in an efficient, automated environment offering over 500 product categories. Their superior service, unmatched scale and ability to deliver results enable us to forge trusted, long-term relationships with over 10,000 clients worldwide. “
A number of other equities research analysts have also commented on the company. BidaskClub lowered Liquidity Services from a buy rating to a hold rating in a research report on Tuesday, January 22nd. TheStreet upgraded Liquidity Services from a d rating to a c- rating in a research report on Wednesday, December 12th. Barrington Research restated a buy rating and set a $10.00 target price on shares of Liquidity Services in a research report on Sunday, December 9th. Finally, ValuEngine upgraded Liquidity Services from a sell rating to a hold rating in a research report on Friday, October 12th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $9.13.
Liquidity Services (NASDAQ:LQDT) last released its quarterly earnings results on Thursday, February 7th. The business services provider reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. Liquidity Services had a negative return on equity of 11.08% and a negative net margin of 7.70%. The firm had revenue of $54.05 million for the quarter, compared to analyst estimates of $51.34 million. On average, equities research analysts expect that Liquidity Services will post -0.34 earnings per share for the current fiscal year.
In related news, insider James M. Rallo sold 4,785 shares of the company’s stock in a transaction dated Friday, December 7th. The stock was sold at an average price of $6.99, for a total transaction of $33,447.15. Following the sale, the insider now owns 4,785 shares in the company, valued at approximately $33,447.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider James M. Rallo sold 4,090 shares of the company’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $6.12, for a total value of $25,030.80. Following the sale, the insider now owns 4,090 shares in the company, valued at approximately $25,030.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,691 shares of company stock worth $133,570. 18.70% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund bought a new position in Liquidity Services in the fourth quarter worth approximately $62,000. SG Americas Securities LLC bought a new position in Liquidity Services in the fourth quarter worth approximately $68,000. LS Investment Advisors LLC boosted its holdings in Liquidity Services by 1,442.5% in the fourth quarter. LS Investment Advisors LLC now owns 13,142 shares of the business services provider’s stock worth $81,000 after acquiring an additional 12,290 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in Liquidity Services in the fourth quarter worth approximately $169,000. Finally, Arizona State Retirement System boosted its holdings in Liquidity Services by 9.3% in the fourth quarter. Arizona State Retirement System now owns 40,752 shares of the business services provider’s stock worth $251,000 after acquiring an additional 3,473 shares in the last quarter. Institutional investors and hedge funds own 65.42% of the company’s stock.
Liquidity Services Company Profile
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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