United Services Automobile Association increased its stake in Liquidity Services, Inc. (NASDAQ:LQDT) by 28.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,310 shares of the business services provider’s stock after buying an additional 7,440 shares during the period. United Services Automobile Association owned about 0.11% of Liquidity Services worth $266,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System boosted its stake in shares of Liquidity Services by 1.6% in the first quarter. Arizona State Retirement System now owns 12,737 shares of the business services provider’s stock valued at $102,000 after buying an additional 200 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Liquidity Services by 0.8% in the first quarter. Prudential Financial Inc. now owns 53,538 shares of the business services provider’s stock valued at $428,000 after buying an additional 450 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Liquidity Services by 7.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,090 shares of the business services provider’s stock valued at $128,000 after buying an additional 920 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Liquidity Services by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 262,996 shares of the business services provider’s stock valued at $2,104,000 after buying an additional 945 shares during the last quarter. Finally, Comerica Bank boosted its stake in shares of Liquidity Services by 5.9% in the fourth quarter. Comerica Bank now owns 25,392 shares of the business services provider’s stock valued at $250,000 after buying an additional 1,419 shares during the last quarter. Hedge funds and other institutional investors own 67.22% of the company’s stock.
Shares of Liquidity Services, Inc. (NASDAQ LQDT) traded up 2.94% during trading on Friday, hitting $7.00. 109,569 shares of the stock traded hands. Liquidity Services, Inc. has a 1-year low of $6.05 and a 1-year high of $11.49. The firm’s market capitalization is $220.40 million. The firm has a 50-day moving average of $6.47 and a 200-day moving average of $7.60.
Liquidity Services (NASDAQ:LQDT) last released its quarterly earnings results on Thursday, May 4th. The business services provider reported ($0.21) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.07. The firm 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 22.99% and a negative return on equity of 10.82%. The company’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 earnings per share. On average, equities analysts forecast that Liquidity Services, Inc. will post ($0.81) earnings per share for the current year.
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Several brokerages have commented on LQDT. Zacks Investment Research upgraded shares of Liquidity Services from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Robert W. Baird reiterated a “neutral” rating on shares of Liquidity Services in a research report on Monday, July 3rd. Finally, ValuEngine upgraded shares of Liquidity Services from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd.
Liquidity Services Company Profile
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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