Bank of New York Mellon Corp reduced its stake in shares of Liquidity Services, Inc. (NASDAQ:LQDT) by 6.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,410 shares of the business services provider’s stock after selling 18,489 shares during the quarter. Bank of New York Mellon Corp owned about 0.85% of Liquidity Services worth $1,791,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Liquidity Services by 3.4% during the 1st quarter. BlackRock Inc. now owns 3,393,091 shares of the business services provider’s stock worth $22,055,000 after acquiring an additional 112,162 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Liquidity Services by 12.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,320,405 shares of the business services provider’s stock valued at $8,583,000 after purchasing an additional 145,116 shares during the period. Acadian Asset Management LLC acquired a new position in Liquidity Services in the second quarter valued at $4,459,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Liquidity Services by 2.5% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 383,100 shares of the business services provider’s stock valued at $2,509,000 after purchasing an additional 9,200 shares during the period. Finally, Sei Investments Co. increased its stake in Liquidity Services by 79.6% in the first quarter. Sei Investments Co. now owns 106,091 shares of the business services provider’s stock valued at $690,000 after purchasing an additional 47,016 shares during the period. Hedge funds and other institutional investors own 65.36% of the company’s stock.
In other Liquidity Services news, insider James M. Rallo sold 6,737 shares of Liquidity Services stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $5.91, for a total value of $39,815.67. Following the transaction, the insider now directly owns 16,059 shares in the company, valued at $94,908.69. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jorge Celaya sold 60,193 shares of Liquidity Services stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $7.01, for a total transaction of $421,952.93. Following the completion of the transaction, the chief financial officer now owns 28,967 shares in the company, valued at $203,058.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,227 shares of company stock worth $751,599. 22.10% of the stock is currently owned by company insiders.
NASDAQ LQDT opened at $5.48 on Friday. The firm has a market capitalization of $203.98 million, a price-to-earnings ratio of -5.68 and a beta of 0.68. Liquidity Services, Inc. has a one year low of $4.34 and a one year high of $8.00.
Liquidity Services (NASDAQ:LQDT) last posted its quarterly earnings data on Thursday, August 2nd. The business services provider reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.15. The company had revenue of $50.57 million for the quarter, compared to analyst estimates of $53.88 million. Liquidity Services had a negative net margin of 11.33% and a negative return on equity of 16.30%. Equities research analysts anticipate that Liquidity Services, Inc. will post -0.61 EPS for the current year.
LQDT has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Liquidity Services from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a research note on Thursday, August 9th. ValuEngine lowered shares of Liquidity Services from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd.
About Liquidity Services
Liquidity Services, Inc provides e-commerce marketplace solutions to manage, value, and sell inventory and equipment for business and government clients in the United States. The company's marketplaces include liquidation.com that enable corporations to sell surplus and salvage consumer goods and capital assets; govliquidation.com, which enables federal government agencies and commercial businesses to sell surplus and scrap assets; govdeals.com that enables local and state government entities, school boards, and public utilities to sell surplus and salvage assets; auctiondeals.com self-service solution which enable sellers list their assets to commercial businesses to sell surplus and salvage assets.
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