Corebridge Financial Inc. Sells 896 Shares of Liquidity Services, Inc. (NASDAQ:LQDT)

Corebridge Financial Inc. reduced its holdings in Liquidity Services, Inc. (NASDAQ:LQDT) by 7.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,455 shares of the business services provider’s stock after selling 896 shares during the quarter. Corebridge Financial Inc.’s holdings in Liquidity Services were worth $370,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of LQDT. Barclays PLC increased its stake in Liquidity Services by 307.3% during the 3rd quarter. Barclays PLC now owns 39,427 shares of the business services provider’s stock worth $899,000 after purchasing an additional 29,746 shares in the last quarter. JPMorgan Chase & Co. lifted 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Liquidity Services by 107.7% during 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. Franklin Resources Inc. grew its stake in shares of Liquidity Services by 7.3% during the 3rd quarter. Franklin Resources Inc. now owns 15,009 shares of the business services provider’s stock worth $339,000 after acquiring an additional 1,019 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Liquidity Services by 0.5% in the third quarter. Geode Capital Management LLC now owns 515,584 shares of the business services provider’s stock valued at $11,757,000 after purchasing an additional 2,392 shares during the last quarter. Institutional investors and hedge funds own 71.15% of the company’s stock.

Liquidity Services Trading Up 7.4 %

Shares of LQDT opened at $30.52 on Thursday. The company’s fifty day simple moving average is $32.07 and its 200 day simple moving average is $29.13. Liquidity Services, Inc. has a 1-year low of $16.79 and a 1-year high of $39.72. The company has a market cap of $947.31 million, a price-to-earnings ratio of 40.69 and a beta of 1.39.

Liquidity Services (NASDAQ:LQDT) last released its quarterly earnings data on Thursday, February 6th. The business services provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.06. Liquidity Services had a net margin of 6.37% and a return on equity of 20.94%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Craig Hallum raised their target price on shares of Liquidity Services from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, December 13th. StockNews.com cut Liquidity Services from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Liquidity Services in a research report on Wednesday, March 19th.

Insider Activity at Liquidity Services

In other news, VP Mark A. Shaffer sold 6,005 shares of Liquidity Services stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $35.59, for a total transaction of $213,717.95. Following the completion of the sale, the vice president now owns 36,083 shares of the company’s stock, valued at approximately $1,284,193.97. This trade represents a 14.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Steven Weiskircher sold 10,815 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $33.99, for a total transaction of $367,601.85. Following the completion of the transaction, the senior vice president now owns 58,401 shares in the company, valued at $1,985,049.99. This trade represents a 15.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 133,758 shares of company stock worth $4,371,408. Company insiders own 28.40% of the company’s stock.

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.