Liquidity Services Inc. (LQDT) Shares Down 3.5% on Insider Selling
Liquidity Services Inc. (NASDAQ:LQDT) shares were down 3.5% during trading on Thursday following insider selling activity. The stock traded as low as $9.55 and last traded at $9.60, with a volume of 79,467 shares. The stock had previously closed at $9.95.
Specifically, CFO Jorge Celaya sold 6,636 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $10.65, for a total transaction of $70,673.40. Following the transaction, the chief financial officer now owns 53,382 shares of the company’s stock, valued at approximately $568,518.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Segundo Leoncio Casusol sold 6,945 shares of the business’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $10.10, for a total value of $70,144.50. Following the transaction, the insider now directly owns 5,156 shares in the company, valued at approximately $52,075.60. The disclosure for this sale can be found here. Insiders own 21.60% of the company’s stock.
Separately, Zacks Investment Research downgraded Liquidity Services from a “buy” rating to a “hold” rating in a research report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $6.65.
The firm’s market cap is $295.11 million. The company’s 50 day moving average is $10.11 and its 200 day moving average is $7.85.
Liquidity Services (NASDAQ:LQDT) last posted its earnings results on Thursday, August 4th. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.16. Liquidity Services had a negative return on equity of 3.11% and a negative net margin of 15.72%. The business earned $85.18 million during the quarter, compared to the consensus estimate of $72.48 million. During the same period in the previous year, the business earned $0.14 EPS. The business’s quarterly revenue was down 5.1% on a year-over-year basis. On average, equities research analysts anticipate that Liquidity Services Inc. will post ($0.09) EPS for the current year.
Several hedge funds have recently bought and sold shares of LQDT. Arizona State Retirement System increased its stake in Liquidity Services by 1.6% in the second quarter. Arizona State Retirement System now owns 12,737 shares of the company’s stock valued at $100,000 after buying an additional 200 shares during the last quarter. Acrospire Investment Management LLC purchased a new stake in Liquidity Services during the second quarter valued at $118,000. Brandes Investment Partners LP increased its stake in Liquidity Services by 29.2% in the second quarter. Brandes Investment Partners LP now owns 15,374 shares of the company’s stock valued at $121,000 after buying an additional 3,475 shares during the last quarter. American International Group Inc. increased its stake in Liquidity Services by 0.6% in the second quarter. American International Group Inc. now owns 18,492 shares of the company’s stock valued at $145,000 after buying an additional 113 shares during the last quarter. Finally, Nationwide Fund Advisors increased its stake in Liquidity Services by 24.6% in the second quarter. Nationwide Fund Advisors now owns 19,477 shares of the company’s stock valued at $153,000 after buying an additional 3,850 shares during the last quarter. 65.33% of the stock is owned by institutional investors and hedge funds.
Liquidity Services Company Profile
Liquidity Services, Inc is an online auction marketplace for surplus and salvage assets. The Company operates through the operating auction marketplaces for sellers and buyers of surplus, salvage and scrap assets segment. The Company enables buyers and sellers to transact in an automated online auction environment offering over 500 product categories.
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