Liquidity Services (NASDAQ:LQDT) Shares Down 6%

Liquidity Services, Inc. (NASDAQ:LQDT)’s share price dropped 6% during trading on Thursday . The company traded as low as $17.33 and last traded at $18.10. Approximately 27,471 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 129,003 shares. The stock had previously closed at $19.26.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LQDT shares. TheStreet downgraded shares of Liquidity Services from a “b-” rating to a “c+” rating in a report on Thursday, February 8th. Barrington Research restated an “outperform” rating and set a $27.00 price target on shares of Liquidity Services in a research note on Monday. Finally, StockNews.com upgraded shares of Liquidity Services from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 3rd.

Liquidity Services Stock Performance

The company has a 50 day simple moving average of $17.89 and a two-hundred day simple moving average of $18.00. The firm has a market cap of $558.80 million, a PE ratio of 32.10 and a beta of 1.38.

Liquidity Services (NASDAQ:LQDT) last issued its earnings results on Thursday, February 8th. The business services provider reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Liquidity Services had a net margin of 6.03% and a return on equity of 17.62%. The firm had revenue of $71.33 million during the quarter.

Insider Buying and Selling at Liquidity Services

In related news, Director George H. Ellis sold 6,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $17.50, for a total transaction of $105,000.00. Following the completion of the transaction, the director now owns 19,402 shares of the company’s stock, valued at $339,535. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 29.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Liquidity Services in the 3rd quarter worth approximately $162,000. Panagora Asset Management Inc. grew its position in Liquidity Services by 74.8% during the third quarter. Panagora Asset Management Inc. now owns 76,901 shares of the business services provider’s stock valued at $1,355,000 after buying an additional 32,902 shares during the period. Mesirow Financial Investment Management Inc. acquired a new stake in Liquidity Services during the third quarter valued at $255,000. Assenagon Asset Management S.A. increased its holdings in Liquidity Services by 472.0% in the third quarter. Assenagon Asset Management S.A. now owns 106,014 shares of the business services provider’s stock valued at $1,868,000 after buying an additional 87,479 shares in the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new position in shares of Liquidity Services in the third quarter worth about $256,000. 71.15% of the stock is currently owned by hedge funds and other institutional investors.

About Liquidity Services

Liquidity Services, Inc provides e-commerce marketplaces, self-directed auction listing tools, and value-added services in the United States and internationally. The company operates through four segments: GovDeals, Retail Supply Chain Group (RSCG), Capital Assets Group (CAG), and Machinio. Its 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.