Bank of America Corp DE Sells 14,593 Shares of Liquidity Services, Inc. (NASDAQ:LQDT)

Bank of America Corp DE reduced its position in shares of Liquidity Services, Inc. (NASDAQ:LQDT - Free Report) by 29.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,766 shares of the business services provider's stock after selling 14,593 shares during the period. Bank of America Corp DE owned about 0.11% of Liquidity Services worth $1,123,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd bought a new stake in shares of Liquidity Services during the fourth quarter worth about $38,000. Quarry LP bought a new stake in shares of Liquidity Services during the fourth quarter worth about $47,000. Aquatic Capital Management LLC grew its holdings in shares of Liquidity Services by 257.6% during the fourth quarter. Aquatic Capital Management LLC now owns 1,788 shares of the business services provider's stock worth $58,000 after purchasing an additional 1,288 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Liquidity Services during the fourth quarter worth about $132,000. Finally, Yousif Capital Management LLC bought a new stake in shares of Liquidity Services during the fourth quarter worth about $204,000. 71.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wall Street Zen cut Liquidity Services from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 4th. Barrington Research reiterated an "outperform" rating and issued a $40.00 target price on shares of Liquidity Services in a report on Wednesday, March 19th.

Insiders Place Their Bets

In other Liquidity Services news, Director Jaime Mateus-Tique sold 10,000 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $31.55, for a total transaction of $315,500.00. Following the transaction, the director now directly owns 184,562 shares in the company, valued at approximately $5,822,931.10. This represents a 5.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 105,100 shares of company stock worth $3,223,400. Corporate insiders own 28.40% of the company's stock.

Liquidity Services Price Performance

Shares of LQDT stock opened at $24.83 on Friday. The stock has a market capitalization of $775.22 million, a PE ratio of 33.11 and a beta of 1.16. Liquidity Services, Inc. has a one year low of $18.87 and a one year high of $39.72. The business's 50 day simple moving average is $27.97 and its 200 day simple moving average is $30.48.

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

Liquidity Services Company Profile

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.

Want to see what other hedge funds are holding LQDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Liquidity Services, Inc. (NASDAQ:LQDT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.