Bank of New York Mellon Corp increased its stake in shares of Liquidity Services, Inc. (NASDAQ:LQDT) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 262,996 shares of the business services provider’s stock after buying an additional 945 shares during the period. Bank of New York Mellon Corp owned about 0.84% of Liquidity Services worth $2,104,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in Liquidity Services by 19.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 753,862 shares of the business services provider’s stock valued at $7,350,000 after buying an additional 125,213 shares during the period. State Street Corp increased its position in Liquidity Services by 6.0% in the fourth quarter. State Street Corp now owns 680,126 shares of the business services provider’s stock valued at $6,635,000 after buying an additional 38,642 shares during the period. Russell Investments Group Ltd. increased its position in Liquidity Services by 11.8% in the first quarter. Russell Investments Group Ltd. now owns 130,557 shares of the business services provider’s stock valued at $1,043,000 after buying an additional 13,731 shares during the period. Two Sigma Investments LP increased its position in Liquidity Services by 105.0% in the fourth quarter. Two Sigma Investments LP now owns 80,181 shares of the business services provider’s stock valued at $782,000 after buying an additional 41,072 shares during the period. Finally, Strs Ohio increased its position in Liquidity Services by 18.2% in the first quarter. Strs Ohio now owns 77,800 shares of the business services provider’s stock valued at $622,000 after buying an additional 12,000 shares during the period. Institutional investors own 67.22% of the company’s stock.
Shares of Liquidity Services, Inc. (NASDAQ:LQDT) opened at 7.00 on Friday. Liquidity Services, Inc. has a 12-month low of $6.05 and a 12-month high of $11.49. The firm’s 50-day moving average price is $6.47 and its 200-day moving average price is $7.60. The company’s market capitalization is $220.40 million.
Liquidity Services (NASDAQ:LQDT) last posted its earnings results on Thursday, May 4th. The business services provider reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.07. Liquidity Services had a negative net margin of 22.99% and a negative return on equity of 10.82%. The business had revenue of $72.33 million for the quarter, compared to analyst estimates of $81.14 million. During the same period in the prior year, the company posted $0.04 EPS. The company’s revenue for the quarter was down 16.7% on a year-over-year basis. On average, analysts expect that Liquidity Services, Inc. will post ($0.81) EPS for the current fiscal year.
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A number of equities research analysts have commented on LQDT shares. Zacks Investment Research cut Liquidity Services from a “hold” rating to a “sell” rating in a report on Thursday, June 29th. ValuEngine raised Liquidity Services from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Robert W. Baird reissued a “neutral” rating on shares of Liquidity Services in a report on Monday, July 3rd.
About Liquidity Services
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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