Principal Financial Group Inc. cut its position in shares of Liquidity Services, Inc. (NASDAQ:LQDT – Free Report) by 17.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 114,744 shares of the business services provider’s stock after selling 23,492 shares during the quarter. Principal Financial Group Inc. owned 0.37% of Liquidity Services worth $3,147,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Legal & General Group Plc boosted its stake in Liquidity Services by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 64,366 shares of the business services provider’s stock worth $1,518,000 after purchasing an additional 556 shares during the period. Aviva PLC grew its holdings in shares of Liquidity Services by 3.1% during the second quarter. Aviva PLC now owns 19,861 shares of the business services provider’s stock valued at $469,000 after buying an additional 599 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Liquidity Services by 7.6% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 10,002 shares of the business services provider’s stock valued at $274,000 after buying an additional 703 shares during the period. The Manufacturers Life Insurance Company raised its position in Liquidity Services by 9.8% during the second quarter. The Manufacturers Life Insurance Company now owns 8,727 shares of the business services provider’s stock valued at $206,000 after buying an additional 780 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Liquidity Services in the 3rd quarter worth about $30,000. 71.15% of the stock is owned by hedge funds and other institutional investors.
Liquidity Services Stock Up 1.5%
Shares of LQDT opened at $30.73 on Tuesday. The firm has a market cap of $952.94 million, a price-to-earnings ratio of 33.40 and a beta of 1.03. The company’s fifty day moving average is $31.48 and its 200-day moving average is $27.85. Liquidity Services, Inc. has a 12 month low of $21.67 and a 12 month high of $37.34.
Insider Activity at Liquidity Services
In related news, Director Katharin S. Dyer sold 8,196 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $31.62, for a total value of $259,157.52. Following the completion of the sale, the director directly owned 36,395 shares in the company, valued at approximately $1,150,809.90. The trade was a 18.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jorge Celaya sold 15,114 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $30.24, for a total value of $457,047.36. Following the transaction, the chief financial officer owned 32,816 shares in the company, valued at approximately $992,355.84. This trade represents a 31.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 104,151 shares of company stock valued at $3,392,167. Corporate insiders own 28.06% of the company’s stock.
Analysts Set New Price Targets
Several research firms have weighed in on LQDT. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liquidity Services in a research note on Thursday, January 22nd. Barrington Research set a $44.00 price objective on shares of Liquidity Services in a research note on Friday, February 6th. Finally, Zacks Research raised shares of Liquidity Services from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $44.00.
Get Our Latest Stock Analysis on LQDT
Liquidity Services Company Profile
Liquidity Services, Inc is a technology-driven provider of online marketplaces for surplus and remarketed assets. Through its wholly owned platforms—such as Liquidation.com, GovDeals, Machinio and GoIndustry DoveBid—the company connects sellers of industrial equipment, commercial inventory, government surplus and transportation assets with a broad base of registered buyers. Its solutions blend auction formats, fixed-price listings and managed-service offerings to support efficient asset disposition across a wide range of industries.
The company’s core services include asset valuation, marketing, inspection and logistics coordination.
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