Principal Financial Group Inc. lowered its position in shares of Liquidity Services, Inc. (NASDAQ:LQDT – Free Report) by 4.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 105,506 shares of the business services provider’s stock after selling 4,975 shares during the quarter. Principal Financial Group Inc.’s holdings in Liquidity Services were worth $2,406,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Pacer Advisors Inc. lifted its holdings in Liquidity Services by 9.5% in the third quarter. Pacer Advisors Inc. now owns 881,234 shares of the business services provider’s stock worth $20,092,000 after buying an additional 76,794 shares during the period. State Street Corp increased its holdings in shares of Liquidity Services by 1.7% during the third quarter. State Street Corp now owns 852,306 shares of the business services provider’s stock valued at $19,433,000 after acquiring an additional 13,947 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Liquidity Services by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 515,584 shares of the business services provider’s stock worth $11,757,000 after purchasing an additional 2,392 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Liquidity Services by 15.7% in the 2nd quarter. Acadian Asset Management LLC now owns 503,600 shares of the business services provider’s stock worth $10,060,000 after purchasing an additional 68,407 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in Liquidity Services by 1.3% in the 3rd quarter. Rice Hall James & Associates LLC now owns 367,302 shares of the business services provider’s stock worth $8,374,000 after purchasing an additional 4,838 shares in the last quarter. Hedge funds and other institutional investors own 71.15% of the company’s stock.
Liquidity Services Price Performance
NASDAQ:LQDT opened at $32.29 on Friday. The firm has a market capitalization of $992.63 million, a price-to-earnings ratio of 51.25 and a beta of 1.42. The business has a 50 day simple moving average of $27.11 and a 200-day simple moving average of $23.44. Liquidity Services, Inc. has a 1 year low of $13.99 and a 1 year high of $36.00.
Wall Street Analysts Forecast Growth
LQDT has been the topic of several analyst reports. StockNews.com raised Liquidity Services from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 21st. Barrington Research restated an “outperform” rating and set a $27.00 price objective on shares of Liquidity Services in a research report on Tuesday, December 10th. Finally, Craig Hallum upped their price target on Liquidity Services from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, December 13th.
View Our Latest Stock Report on LQDT
Insiders Place Their Bets
In other Liquidity Services news, Director Edward Kolodzieski sold 2,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $31.90, for a total value of $63,800.00. Following the completion of the sale, the director now directly owns 17,229 shares in the company, valued at approximately $549,605.10. This represents a 10.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jaime Mateus-Tique sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $33.22, for a total transaction of $1,661,000.00. Following the transaction, the director now directly owns 103,660 shares in the company, valued at $3,443,585.20. This trade represents a 32.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,668 shares of company stock valued at $3,331,558 over the last 90 days. Insiders own 29.77% of the company’s stock.
Liquidity Services Company Profile
(Free Report)
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.
Further Reading
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).
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