Renaissance Technologies LLC Cuts Stock Holdings in Liquidity Services, Inc. (NASDAQ:LQDT)

Renaissance Technologies LLC lowered its stake in Liquidity Services, Inc. (NASDAQ:LQDT) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,887,904 shares of the business services provider’s stock after selling 39,225 shares during the quarter. Renaissance Technologies LLC owned about 6.19% of Liquidity Services worth $37,720,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of Liquidity Services by 19.2% in the second quarter. GAMMA Investing LLC now owns 3,357 shares of the business services provider’s stock worth $67,000 after purchasing an additional 540 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Liquidity Services during the 2nd quarter worth approximately $87,000. Quest Partners LLC bought a new position in shares of Liquidity Services during the 4th quarter valued at approximately $126,000. Jupiter Asset Management Ltd. bought a new stake in Liquidity Services in the first quarter worth $202,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Liquidity Services by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,894 shares of the business services provider’s stock valued at $389,000 after purchasing an additional 870 shares in the last quarter. Institutional investors own 71.15% of the company’s stock.

Liquidity Services Price Performance

NASDAQ:LQDT opened at $22.97 on Thursday. The firm has a market capitalization of $700.17 million, a price-to-earnings ratio of 35.80 and a beta of 1.37. The business has a 50 day simple moving average of $21.58 and a 200-day simple moving average of $19.67. Liquidity Services, Inc. has a 1 year low of $13.99 and a 1 year high of $23.66.

Liquidity Services (NASDAQ:LQDT) last issued its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The company had revenue of $93.61 million during the quarter. Liquidity Services had a return on equity of 18.47% and a net margin of 5.91%. During the same quarter in the prior year, the business earned $0.28 earnings per share.

Wall Street Analysts Forecast Growth

Separately, Barrington Research restated an “outperform” rating and issued a $27.00 target price on shares of Liquidity Services in a report on Monday, August 26th.

Insider Transactions at Liquidity Services

In related news, CFO Jorge Celaya sold 10,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $22.03, for a total value of $220,300.00. Following the sale, the chief financial officer now directly owns 52,407 shares of the company’s stock, valued at approximately $1,154,526.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Edward Kolodzieski sold 12,155 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $22.39, for a total transaction of $272,150.45. Following the completion of the sale, the director now directly owns 53,074 shares of the company’s stock, valued at approximately $1,188,326.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jorge Celaya sold 10,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $22.03, for a total value of $220,300.00. Following the completion of the transaction, the chief financial officer now directly owns 52,407 shares in the company, valued at approximately $1,154,526.21. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,345 shares of company stock worth $3,462,918. 29.77% of the stock is currently owned by insiders.

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.