Liquidity Services (NASDAQ:LQDT – Get Rating) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.
Several other equities analysts have also commented on LQDT. TheStreet lowered Liquidity Services from a "b-" rating to a "c+" rating in a report on Friday, June 24th. Craig Hallum began coverage on Liquidity Services in a report on Monday, June 27th. They set a "buy" rating and a $28.00 target price for the company.
Get Liquidity Services alerts:Liquidity Services Trading Down 0.2 %
NASDAQ:LQDT opened at $17.07 on Friday. The firm has a market capitalization of $607.28 million, a PE ratio of 9.08 and a beta of 1.38. The stock has a 50 day moving average of $17.68 and a 200-day moving average of $16.40. Liquidity Services has a 52 week low of $11.39 and a 52 week high of $28.73.
Insider Buying and Selling
In related news, CFO Jorge Celaya sold 5,080 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $20.06, for a total value of $101,904.80. Following the completion of the transaction, the chief financial officer now directly owns 50,908 shares of the company's stock, valued at approximately $1,021,214.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Liquidity Services news, CFO Jorge Celaya sold 5,080 shares of the company's stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $20.06, for a total value of $101,904.80. Following the completion of the sale, the chief financial officer now directly owns 50,908 shares in the company, valued at $1,021,214.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Steven Weiskircher sold 37,354 shares of the company's stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $19.39, for a total value of $724,294.06. Following the completion of the sale, the chief technology officer now owns 66,938 shares of the company's stock, valued at $1,297,927.82. The disclosure for this sale can be found here. Insiders sold 128,349 shares of company stock valued at $2,473,366 in the last three months. 29.33% of the stock is currently owned by corporate insiders.Institutional Investors Weigh In On Liquidity Services
Institutional investors and hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors lifted its position in shares of Liquidity Services by 87.0% during the 1st quarter. Captrust Financial Advisors now owns 2,050 shares of the business services provider's stock valued at $35,000 after acquiring an additional 954 shares during the last quarter. KBC Group NV acquired a new stake in Liquidity Services during the 2nd quarter valued at $32,000. Meeder Asset Management Inc. raised its stake in Liquidity Services by 153.6% during the 1st quarter. Meeder Asset Management Inc. now owns 2,873 shares of the business services provider's stock valued at $49,000 after purchasing an additional 1,740 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Liquidity Services during the 4th quarter valued at $65,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Liquidity Services during the 2nd quarter valued at $53,000. Institutional investors and hedge funds own 66.03% of the company's stock.
About Liquidity Services
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Liquidity Services, Inc provides e-commerce marketplaces, self-directed auction listing tools, and value-added services. It operates through four segments: Retail Supply Chain Group, Capital Assets Group, GovDeals, and Machinio. The company's marketplaces include liquidation.com that enable corporations to sell surplus and salvage consumer goods and retail capital assets; GovDeals marketplace, which provides self-directed service solutions in which sellers list their own assets that enables local and state government entities, and commercial businesses located in the United States and Canada to sell surplus and salvage assets; and AllSurplus, a centralized marketplace that connects global buyer base with assets from across the network of marketplaces in a single destination.
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