Liquidity Services (NASDAQ:LQDT) Sets New 52-Week High After Better-Than-Expected Earnings

Liquidity Services, Inc. (NASDAQ:LQDT) shares hit a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $39.72 and last traded at $36.24, with a volume of 89321 shares. The stock had previously closed at $31.85.

The business services provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.06. Liquidity Services had a return on equity of 18.99% and a net margin of 5.50%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Barrington Research reiterated an “outperform” rating and set a $40.00 price target on shares of Liquidity Services in a research report on Monday. StockNews.com upgraded Liquidity Services from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 21st. Finally, Craig Hallum increased their price target on Liquidity Services from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, December 13th.

Insider Activity at Liquidity Services

In other Liquidity Services news, Director Edward Kolodzieski sold 2,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $32.90, for a total transaction of $65,800.00. Following the completion of the transaction, the director now directly owns 15,229 shares of the company’s stock, valued at approximately $501,034.10. This trade represents a 11.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Daunt sold 4,546 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $31.68, for a total value of $144,017.28. Following the transaction, the executive vice president now directly owns 43,309 shares of the company’s stock, valued at approximately $1,372,029.12. The trade was a 9.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,668 shares of company stock worth $3,331,558 in the last three months. 28.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Liquidity Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP bought a new position in Liquidity Services during the 3rd quarter valued at $488,000. Barclays PLC boosted its stake in shares of Liquidity Services by 307.3% during the 3rd quarter. Barclays PLC now owns 39,427 shares of the business services provider’s stock worth $899,000 after acquiring an additional 29,746 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Liquidity Services by 102.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 59,927 shares of the business services provider’s stock worth $1,366,000 after acquiring an additional 30,360 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Liquidity Services during the 3rd quarter worth $1,311,000. Finally, Intech Investment Management LLC bought a new stake in shares of Liquidity Services during the 3rd quarter worth $518,000. 71.15% of the stock is owned by institutional investors.

Liquidity Services Stock Performance

The firm has a market capitalization of $1.02 billion, a P/E ratio of 52.57 and a beta of 1.36. The firm has a 50 day moving average price of $32.18 and a two-hundred day moving average price of $25.90.

Liquidity Services Company Profile

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.