Allspring Global Investments Holdings LLC Raises Stock Position in Liquidity Services, Inc. (NASDAQ:LQDT)

Allspring Global Investments Holdings LLC boosted its stake in shares of Liquidity Services, Inc. (NASDAQ:LQDT) by 107.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 119,432 shares of the business services provider’s stock after purchasing an additional 61,918 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.39% of Liquidity Services worth $3,856,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. R Squared Ltd acquired a new position in shares of Liquidity Services in the 4th quarter valued at $66,000. GAMMA Investing LLC raised its position in shares of Liquidity Services by 11.2% in the fourth quarter. GAMMA Investing LLC now owns 4,849 shares of the business services provider’s stock valued at $157,000 after buying an additional 487 shares during the last quarter. Longboard Asset Management LP purchased a new stake in shares of Liquidity Services in the fourth quarter valued at about $200,000. Yousif Capital Management LLC purchased a new stake in shares of Liquidity Services in the fourth quarter valued at about $204,000. Finally, Linden Thomas Advisory Services LLC purchased a new stake in shares of Liquidity Services in the fourth quarter valued at about $220,000. Hedge funds and other institutional investors own 71.15% of the company’s stock.

Liquidity Services Stock Performance

Shares of NASDAQ:LQDT opened at $35.46 on Friday. Liquidity Services, Inc. has a 1 year low of $16.79 and a 1 year high of $39.72. The stock has a market capitalization of $1.10 billion, a P/E ratio of 47.28 and a beta of 1.36. The stock has a 50-day simple moving average of $33.98 and a 200-day simple moving average of $26.84.

Liquidity Services (NASDAQ:LQDT) last posted its quarterly earnings results on Thursday, February 6th. The business services provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.06. Liquidity Services had a return on equity of 20.94% and a net margin of 6.37%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LQDT. StockNews.com lowered shares of Liquidity Services from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Barrington Research reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Liquidity Services in a report on Tuesday, February 11th. Finally, Craig Hallum raised their price objective on shares of Liquidity Services from $28.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, December 13th.

Insider Buying and Selling

In related news, Director Jaime Mateus-Tique sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $33.22, for a total value of $1,661,000.00. Following the transaction, the director now directly owns 103,660 shares of the company’s stock, valued at approximately $3,443,585.20. This trade represents a 32.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark A. Shaffer sold 6,005 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $35.59, for a total value of $213,717.95. Following the sale, the vice president now owns 36,083 shares in the company, valued at approximately $1,284,193.97. This represents a 14.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 157,388 shares of company stock valued at $5,263,991. 28.40% of the stock is owned by corporate insiders.

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.