Liquidity Services (LQDT) Reaches New 12-Month Low on Disappointing Earnings

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

The business services provider reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.07). The business had revenue of $61.40 million for the quarter, compared to analyst estimates of $64.10 million. Liquidity Services had a negative net margin of 14.51% and a negative return on equity of 21.26%. The firm’s quarterly revenue was down 21.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.02) earnings per share.

Several research analysts recently weighed in on the company. Zacks Investment Research lowered Liquidity Services from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. ValuEngine raised Liquidity Services from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st.

In other Liquidity Services news, insider James M. Rallo sold 11,054 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $5.62, for a total value of $62,123.48. Following the transaction, the insider now directly owns 11,054 shares of the company’s stock, valued at approximately $62,123.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Roger Gravley sold 8,545 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $5.80, for a total value of $49,561.00. Following the completion of the transaction, the insider now directly owns 9,702 shares in the company, valued at $56,271.60. The disclosure for this sale can be found here. Insiders have sold 34,869 shares of company stock worth $200,250 over the last three months. 22.30% of the stock is owned by insiders.

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

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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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