Liquidity Services (NASDAQ:LQDT) Price Target Raised to $37.00

Liquidity Services (NASDAQ:LQDT) had its price target lifted by Craig Hallum from $28.00 to $37.00 in a research note released on Friday,Benzinga reports. Craig Hallum currently has a buy rating on the business services provider’s stock.

Separately, Barrington Research restated an “outperform” rating and issued a $27.00 price target on shares of Liquidity Services in a research note on Tuesday, December 10th.

Liquidity Services Stock Performance

Shares of LQDT opened at $35.54 on Friday. Liquidity Services has a fifty-two week low of $13.99 and a fifty-two week high of $35.80. The firm’s 50-day simple moving average is $24.18 and its two-hundred day simple moving average is $22.17. The stock has a market cap of $1.09 billion, a PE ratio of 56.41 and a beta of 1.42.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royce & Associates LP purchased a new position in Liquidity Services in the 3rd quarter worth approximately $488,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Liquidity Services in the third quarter worth $1,311,000. Intech Investment Management LLC bought a new position in shares of Liquidity Services during the third quarter valued at $518,000. Acadian Asset Management LLC lifted its holdings in shares of Liquidity Services by 15.7% during the second quarter. Acadian Asset Management LLC now owns 503,600 shares of the business services provider’s stock valued at $10,060,000 after purchasing an additional 68,407 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Liquidity Services by 31.2% during the third quarter. BNP Paribas Financial Markets now owns 24,912 shares of the business services provider’s stock valued at $568,000 after buying an additional 5,929 shares during the last quarter. Institutional investors own 71.15% of the company’s stock.

Liquidity Services Company 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.