Short Interest in Liquidity Services, Inc. (LQDT) Rises By 25.5%
Liquidity Services, Inc. (NASDAQ:LQDT) saw a significant increase in short interest in the month of April. As of April 28th, there was short interest totalling 335,466 shares, an increase of 25.5% from the April 13th total of 267,352 shares. Based on an average daily trading volume, of 68,889 shares, the short-interest ratio is currently 4.9 days.
In other Liquidity Services news, insider James M. Rallo sold 7,717 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $7.61, for a total transaction of $58,726.37. Following the completion of the sale, the insider now owns 7,717 shares in the company, valued at $58,726.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Michael E. Sweeney sold 3,500 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $7.61, for a total value of $26,635.00. Following the sale, the vice president now owns 3,500 shares of the company’s stock, valued at approximately $26,635. The disclosure for this sale can be found here. 22.30% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of LQDT. Chicago Equity Partners LLC acquired a new position in Liquidity Services during the third quarter valued at approximately $414,000. Alambic Investment Management L.P. acquired a new position in Liquidity Services during the third quarter valued at approximately $211,000. JPMorgan Chase & Co. increased its position in Liquidity Services by 12.6% in the third quarter. JPMorgan Chase & Co. now owns 190,950 shares of the business services provider’s stock valued at $2,146,000 after buying an additional 21,337 shares during the period. Hartford Investment Management Co. acquired a new position in Liquidity Services during the third quarter valued at approximately $155,000. Finally, Mackenzie Financial Corp increased its position in Liquidity Services by 486.3% in the third quarter. Mackenzie Financial Corp now owns 166,675 shares of the business services provider’s stock valued at $1,873,000 after buying an additional 138,246 shares during the period. Institutional investors and hedge funds own 65.04% of the company’s stock.
Shares of Liquidity Services (NASDAQ:LQDT) remained flat at $6.70 during mid-day trading on Friday. 194,656 shares of the company’s stock traded hands. The company’s market cap is $210.95 million. Liquidity Services has a 12-month low of $6.04 and a 12-month high of $11.49. The firm’s 50 day moving average is $7.43 and its 200-day moving average is $8.68.
Liquidity Services (NASDAQ:LQDT) last posted its quarterly earnings results on Thursday, May 4th. The business services provider reported ($0.21) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.07. The business had revenue of $72.33 million during the quarter, compared to the consensus estimate of $81.14 million. Liquidity Services had a negative net margin of 19.64% and a negative return on equity of 6.93%. The company’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 earnings per share. Equities research analysts forecast that Liquidity Services will post ($0.81) EPS for the current year.
Separately, Zacks Investment Research lowered Liquidity Services from a “hold” rating to a “sell” rating in a report on Thursday, May 11th.
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About Liquidity Services
Liquidity Services, Inc operates a network of e-commerce marketplaces that enable buyers and sellers to transact in an automated environment. The Company employs e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government clients. The Company’s marketplaces provide professional buyers access to a global supply of new, surplus and scrap assets presented with digital images and other relevant product information.
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