Liquidity Services (LQDT) Reaches New 52-Week Low Following Weak Earnings

Liquidity Services, Inc. (NASDAQ:LQDT) hit a new 52-week low during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $4.80 and last traded at $5.75, with a volume of 79300 shares trading hands. The stock had previously closed at $5.85.

The business services provider reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.07). The business had revenue of $61.40 million during the quarter, compared to the consensus estimate of $64.10 million. Liquidity Services had a negative return on equity of 16.59% and a negative net margin of 27.52%. The firm’s revenue was down 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.02) earnings per share.

Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Liquidity Services from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. ValuEngine upgraded shares of Liquidity Services from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st.

In other Liquidity Services news, insider James M. Rallo sold 15,270 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $5.80, for a total transaction of $88,566.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James M. Rallo sold 11,054 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $5.62, for a total transaction of $62,123.48. Following the sale, the insider now owns 11,054 shares of the company’s stock, valued at $62,123.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,869 shares of company stock valued at $200,250. 22.30% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio increased its stake in Liquidity Services by 16.2% during the 1st quarter. Public Employees Retirement System of Ohio now owns 13,017 shares of the business services provider’s stock valued at $104,000 after purchasing an additional 1,816 shares in the last quarter. Texas Permanent School Fund increased its stake in Liquidity Services by 1.2% during the 2nd quarter. Texas Permanent School Fund now owns 17,931 shares of the business services provider’s stock valued at $114,000 after purchasing an additional 204 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in Liquidity Services by 51.0% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 24,050 shares of the business services provider’s stock valued at $153,000 after purchasing an additional 8,120 shares in the last quarter. Wells Fargo & Company MN increased its stake in Liquidity Services by 43.0% during the 3rd quarter. Wells Fargo & Company MN now owns 34,415 shares of the business services provider’s stock valued at $203,000 after purchasing an additional 10,352 shares in the last quarter. Finally, 22NW LP increased its stake in Liquidity Services by 86.5% during the 3rd quarter. 22NW LP now owns 38,592 shares of the business services provider’s stock valued at $228,000 after purchasing an additional 17,900 shares in the last quarter. Institutional investors and hedge funds own 67.39% of the company’s stock.

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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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