Longboard Asset Management LP Takes Position in Liquidity Services, Inc. (NASDAQ:LQDT)

Longboard Asset Management LP purchased a new stake in Liquidity Services, Inc. (NASDAQ:LQDT) in the fourth quarter, Holdings Channel.com reports. The fund purchased 6,195 shares of the business services provider’s stock, valued at approximately $200,000.

A number of other large investors have also made changes to their positions in LQDT. Essex Investment Management Co. LLC purchased a new position in shares of Liquidity Services in the 3rd quarter valued at about $2,749,000. Pacer Advisors Inc. grew its stake in Liquidity Services by 9.5% in the 3rd quarter. Pacer Advisors Inc. now owns 881,234 shares of the business services provider’s stock valued at $20,092,000 after acquiring an additional 76,794 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Liquidity Services in the 3rd quarter valued at about $1,311,000. JPMorgan Chase & Co. grew its stake in Liquidity Services by 102.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 59,927 shares of the business services provider’s stock valued at $1,366,000 after acquiring an additional 30,360 shares during the last quarter. Finally, Barclays PLC grew its stake in Liquidity Services by 307.3% in the 3rd quarter. Barclays PLC now owns 39,427 shares of the business services provider’s stock valued at $899,000 after acquiring an additional 29,746 shares during the last quarter. Hedge funds and other institutional investors own 71.15% of the company’s stock.

Insiders Place Their Bets

In related news, Director Edward Kolodzieski sold 26,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $31.29, for a total value of $813,540.00. Following the sale, the director now directly owns 19,229 shares of the company’s stock, valued at approximately $601,675.41. This trade represents a 57.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jorge Celaya sold 16,540 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $34.10, for a total transaction of $564,014.00. Following the completion of the sale, the chief financial officer now directly owns 33,608 shares in the company, valued at $1,146,032.80. This represents a 32.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,668 shares of company stock valued at $3,331,558 in the last ninety days. Insiders own 28.40% of the company’s stock.

Liquidity Services Price Performance

Liquidity Services stock opened at $31.79 on Wednesday. Liquidity Services, Inc. has a 12-month low of $13.99 and a 12-month high of $38.08. The stock has a market capitalization of $980.09 million, a P/E ratio of 50.46 and a beta of 1.36. The firm’s 50-day moving average is $31.90 and its two-hundred day moving average is $25.81.

Liquidity Services (NASDAQ:LQDT) last released its quarterly earnings results on Thursday, December 12th. The business services provider reported $0.32 earnings per share (EPS) for the quarter. Liquidity Services had a net margin of 5.50% and a return on equity of 18.99%. During the same quarter in the previous year, the company posted $0.26 EPS.

Analysts Set New Price Targets

LQDT has been the topic of a number of research reports. StockNews.com raised shares of Liquidity Services from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 21st. Barrington Research reissued an “outperform” rating and issued a $40.00 price objective on shares of Liquidity Services in a research note on Monday. Finally, Craig Hallum increased their price objective on shares of Liquidity Services from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, December 13th.

About Liquidity Services

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.