Liquidity Services Inc. (LQDT) Stock Price Down 3.5% Following Insider Selling
Liquidity Services Inc. (NASDAQ:LQDT) traded down 3.5% on Thursday following insider selling activity. The company traded as low as $9.55 and last traded at $9.60, with a volume of 79,467 shares traded. The stock had previously closed at $9.95.
Specifically, insider Segundo Leoncio Casusol sold 32,648 shares of Liquidity Services stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $9.60, for a total transaction of $313,420.80. Following the completion of the transaction, the insider now directly owns 12,348 shares of the company’s stock, valued at $118,540.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jorge Celaya sold 12,061 shares of Liquidity Services stock in a transaction on Monday, October 10th. The shares were sold at an average price of $10.10, for a total value of $121,816.10. Following the transaction, the chief financial officer now directly owns 33,611 shares of the company’s stock, valued at $339,471.10. The disclosure for this sale can be found here. 21.60% of the stock is owned by corporate insiders.
Separately, Zacks Investment Research cut Liquidity Services from a “buy” rating to a “hold” rating in a report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Liquidity Services currently has an average rating of “Hold” and a consensus target price of $6.65.
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The stock’s market capitalization is $295.11 million. The company has a 50 day moving average price of $10.12 and a 200 day moving average price of $7.84.
Liquidity Services (NASDAQ:LQDT) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $85.18 million for the quarter, compared to analyst estimates of $72.48 million. During the same period in the prior year, the firm posted $0.14 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. Equities research analysts anticipate that Liquidity Services Inc. will post ($0.09) EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of LQDT. American International Group Inc. raised its position in shares of Liquidity Services by 0.6% in the second quarter. American International Group Inc. now owns 18,492 shares of the company’s stock worth $145,000 after buying an additional 113 shares in the last quarter. 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 worth $100,000 after buying an additional 200 shares during the last quarter. I.G. Investment Management LTD. increased its stake in Liquidity Services by 1.6% in the second quarter. I.G. Investment Management LTD. now owns 36,490 shares of the company’s stock worth $286,000 after buying an additional 585 shares during the last quarter. California State Teachers Retirement System increased its stake in Liquidity Services by 2.3% in the second quarter. California State Teachers Retirement System now owns 52,276 shares of the company’s stock worth $410,000 after buying an additional 1,158 shares during the last quarter. Finally, Citigroup Inc. increased its stake in Liquidity Services by 5.6% in the second quarter. Citigroup Inc. now owns 27,168 shares of the company’s stock worth $213,000 after buying an additional 1,438 shares during the last quarter. 65.33% of the stock is currently owned by hedge funds and other institutional investors.
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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