Magnetar Financial LLC Takes Position in Liquidity Services, Inc. (NASDAQ:LQDT)

Magnetar Financial LLC purchased a new stake in shares of Liquidity Services, Inc. (NASDAQ:LQDT) during the 4th quarter, HoldingsChannel reports. The fund purchased 10,816 shares of the business services provider’s stock, valued at approximately $349,000.

Several other hedge funds also recently modified their holdings of LQDT. Royce & Associates LP increased its position in shares of Liquidity Services by 561.2% during the 4th quarter. Royce & Associates LP now owns 141,649 shares of the business services provider’s stock valued at $4,574,000 after purchasing an additional 120,226 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Liquidity Services in the 4th quarter worth $2,743,000. Pacer Advisors Inc. grew its holdings in shares of Liquidity Services by 9.5% in the 3rd quarter. Pacer Advisors Inc. now owns 881,234 shares of the business services provider’s stock worth $20,092,000 after acquiring an additional 76,794 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Liquidity Services by 107.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 119,432 shares of the business services provider’s stock worth $3,856,000 after acquiring an additional 61,918 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Liquidity Services by 102.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 59,927 shares of the business services provider’s stock worth $1,366,000 after acquiring an additional 30,360 shares during the last quarter. 71.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LQDT shares. Barrington Research restated an “outperform” rating and issued a $40.00 target price on shares of Liquidity Services in a report on Wednesday. Craig Hallum lifted their target price on Liquidity Services from $28.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, StockNews.com cut Liquidity Services from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th.

Insider Buying and Selling at Liquidity Services

In other Liquidity Services news, VP Mark A. Shaffer sold 6,005 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $35.59, for a total value of $213,717.95. Following the transaction, the vice president now owns 36,083 shares in the company, valued at $1,284,193.97. The trade was a 14.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Edward Kolodzieski sold 2,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $31.90, for a total value of $63,800.00. Following the sale, the director now owns 17,229 shares of the company’s stock, valued at approximately $549,605.10. This trade represents a 10.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,658 shares of company stock worth $2,508,408 over the last 90 days. 28.40% of the stock is currently owned by corporate insiders.

Liquidity Services Trading Up 2.3 %

NASDAQ:LQDT opened at $31.60 on Friday. The firm has a market capitalization of $980.83 million, a price-to-earnings ratio of 42.13 and a beta of 1.26. Liquidity Services, Inc. has a 1-year low of $16.79 and a 1-year high of $39.72. The business’s fifty day moving average price is $33.54 and its 200 day moving average price is $28.29.

Liquidity Services (NASDAQ:LQDT) last issued its earnings results on Thursday, February 6th. The business services provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.06. Liquidity Services had a return on equity of 20.94% and a net margin of 6.37%.

Liquidity Services Profile

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.