Liquidity Services (NASDAQ:LQDT) released its earnings results on Thursday. The business services provider reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02, Morningstar.com reports. The business had revenue of $56.88 million for the quarter, compared to the consensus estimate of $52.17 million. Liquidity Services had a negative return on equity of 8.02% and a negative net margin of 7.50%. Liquidity Services updated its Q4 2019 guidance to $-0.11–0.04 EPS.
Liquidity Services stock traded up $0.21 during trading on Friday, reaching $7.37. 73,028 shares of the company were exchanged, compared to its average volume of 76,781. Liquidity Services has a 52-week low of $5.17 and a 52-week high of $9.16. The firm’s 50 day moving average price is $6.11.
A number of institutional investors have recently made changes to their positions in LQDT. PNC Financial Services Group Inc. lifted its position in Liquidity Services by 113.0% during the first quarter. PNC Financial Services Group Inc. now owns 3,679 shares of the business services provider’s stock worth $29,000 after buying an additional 1,952 shares in the last quarter. Bank of Montreal Can lifted its position in Liquidity Services by 81.7% during the first quarter. Bank of Montreal Can now owns 5,019 shares of the business services provider’s stock worth $38,000 after buying an additional 2,256 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in Liquidity Services by 510.7% during the first quarter. BNP Paribas Arbitrage SA now owns 5,557 shares of the business services provider’s stock worth $43,000 after buying an additional 4,647 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in Liquidity Services during the fourth quarter worth approximately $45,000. Finally, Louisiana State Employees Retirement System acquired a new stake in Liquidity Services during the first quarter worth $77,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.
Several equities analysts have recently weighed in on the company. ValuEngine downgraded Liquidity Services from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. Barrington Research restated a “buy” rating and issued a $10.00 target price on shares of Liquidity Services in a research report on Thursday. TheStreet downgraded Liquidity Services from a “c” rating to a “d+” rating in a research report on Monday, April 15th. Finally, Zacks Investment Research downgraded Liquidity Services from a “buy” rating to a “hold” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Liquidity Services has an average rating of “Buy” and a consensus price target of $8.38.
Liquidity Services Company Profile
Liquidity Services, Inc provides e-commerce marketplace that enable buyers and sellers to transact in an automated environment offering approximately 500 product categories. The company's marketplaces include liquidation.com that enable corporations to sell surplus and salvage consumer goods and capital assets; govdeals.com that enables local and state government entities, including city, county, and state agencies to sell surplus and salvage assets, as well as offers a suite of services that includes asset sales and marketing, and seller self-service; and auctiondeals.com, a self-service solution, which enable sellers list their own assets, and enable commercial businesses to sell surplus and salvage assets.
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