Liquidity Services (NASDAQ:LQDT) Sees Large Volume Increase - Time to Buy?

Key Points

• Trading volume jumped 81% above average to 349,144 shares; LQDT was nearly unchanged at $44.74.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $50. Recent ratings were mixed, including upgrades to Strong Buy and a downgrade to Hold.
• Liquidity Services reported quarterly EPS of $0.45, beating the $0.34 estimate, and revenue of $129.58 million. Institutional investors own 71.15% of the stock.

Liquidity Services, Inc. (NASDAQ:LQDT - Get Free Report) shares saw an uptick in trading volume on Friday. 349,144 shares traded hands during mid-day trading, an increase of 81% from the average daily volume of 193,049 shares. The stock last traded at $44.74 and had previously closed at $44.72.

Analysts Set New Price Targets

Several analysts recently issued reports on LQDT shares. Barrington Research set a $50.00 price target on shares of Liquidity Services in a research report on Friday, August 7th. Weiss Ratings raised shares of Liquidity Services from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Wall Street Zen raised shares of Liquidity Services from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 16th. Finally, Zacks Research lowered shares of Liquidity Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 12th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Liquidity Services presently has an average rating of "Moderate Buy" and an average price target of $50.00.

Liquidity Services Price Performance

The stock has a market capitalization of $1.39 billion, a PE ratio of 43.51 and a beta of 1.06. The company has a 50 day moving average price of $43.09 and a 200-day moving average price of $37.20.

Liquidity Services (NASDAQ:LQDT - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The business services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.34 by $0.11. Liquidity Services had a net margin of 6.79% and a return on equity of 17.60%. The business had revenue of $129.58 million during the quarter, compared to analyst estimates of $57.83 million. As a group, equities analysts anticipate that Liquidity Services, Inc. will post 1.16 earnings per share for the current year.

Insider Activity at Liquidity Services

In related news, EVP John Daunt sold 715 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $42.75, for a total transaction of $30,566.25. Following the sale, the executive vice president directly owned 38,086 shares of the company's stock, valued at $1,628,176.50. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 28.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On Liquidity Services

A number of large investors have recently made changes to their positions in LQDT. R Squared Ltd increased its holdings in Liquidity Services by 5.6% in the 3rd quarter. R Squared Ltd now owns 8,728 shares of the business services provider's stock worth $374,000 after acquiring an additional 460 shares in the last quarter. Maryland State Retirement & Pension System bought a new position in shares of Liquidity Services in the 3rd quarter valued at about $228,000. Illinois Municipal Retirement Fund boosted its stake in Liquidity Services by 2.8% during the third quarter. Illinois Municipal Retirement Fund now owns 12,196 shares of the business services provider's stock worth $522,000 after buying an additional 331 shares during the period. Alps Advisors Inc. bought a new position in shares of Liquidity Services during the third quarter valued at approximately $577,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Liquidity Services in the 3rd quarter worth about $139,000. 71.15% of the stock is currently owned by institutional investors.

Liquidity Services Company Profile

Liquidity Services, Inc operates online marketplaces and related services for buying and selling surplus, returned, and otherwise excess assets. The company connects governments, businesses, and other organizations with buyers seeking products ranging from consumer goods and industrial equipment to vehicles, heavy machinery, and other capital assets.

Its platforms include GovDeals, which serves public-sector sellers; Liquidation.com, which facilitates the sale of surplus and returned inventory; and Machinio, a marketplace focused on used equipment.

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