Ameriprise Financial Inc. Acquires 692,390 Shares of Liquidity Services, Inc. (NASDAQ:LQDT)

Ameriprise Financial Inc. raised its position in Liquidity Services, Inc. (NASDAQ:LQDT - Free Report) by 651.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 798,688 shares of the business services provider's stock after acquiring an additional 692,390 shares during the quarter. Ameriprise Financial Inc. owned approximately 2.59% of Liquidity Services worth $25,790,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of LQDT. Access Investment Management LLC increased its position in shares of Liquidity Services by 0.4% during the fourth quarter. Access Investment Management LLC now owns 82,830 shares of the business services provider's stock valued at $2,675,000 after buying an additional 345 shares during the period. Franklin Resources Inc. increased its position in shares of Liquidity Services by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 15,692 shares of the business services provider's stock valued at $507,000 after buying an additional 683 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of Liquidity Services by 1.9% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 37,332 shares of the business services provider's stock valued at $1,205,000 after buying an additional 685 shares during the period. Willis Investment Counsel increased its position in shares of Liquidity Services by 1.6% during the fourth quarter. Willis Investment Counsel now owns 52,320 shares of the business services provider's stock valued at $1,689,000 after buying an additional 800 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in shares of Liquidity Services by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 35,493 shares of the business services provider's stock valued at $1,146,000 after buying an additional 900 shares during the period. Hedge funds and other institutional investors own 71.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LQDT. StockNews.com cut shares of Liquidity Services from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 4th. Barrington Research restated an "outperform" rating and issued a $40.00 price objective on shares of Liquidity Services in a report on Wednesday, March 19th.

Insider Transactions at Liquidity Services

In related news, Director Jaime Mateus-Tique sold 29,169 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $29.06, for a total transaction of $847,651.14. Following the transaction, the director now owns 230,393 shares in the company, valued at $6,695,220.58. This represents a 11.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Beatriz V. Infante sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $35.36, for a total transaction of $176,800.00. Following the transaction, the director now owns 82,990 shares in the company, valued at approximately $2,934,526.40. This trade represents a 5.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 118,038 shares of company stock worth $3,669,775. Corporate insiders own 28.40% of the company's stock.

Liquidity Services Trading Down 0.6%

LQDT traded down $0.15 during midday trading on Friday, reaching $24.51. The company's stock had a trading volume of 392,175 shares, compared to its average volume of 225,404. The firm has a market capitalization of $765.23 million, a price-to-earnings ratio of 32.68 and a beta of 1.31. Liquidity Services, Inc. has a 1 year low of $18.78 and a 1 year high of $39.72. The stock's 50-day moving average is $30.03 and its 200-day moving average is $30.53.

Liquidity Services (NASDAQ:LQDT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The business services provider reported $0.31 earnings per share for the quarter, hitting analysts' consensus estimates of $0.31. The business had revenue of $116.38 million for the quarter, compared to analysts' expectations of $125.20 million. Liquidity Services had a net margin of 6.37% and a return on equity of 20.94%.

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.