Barrington Research Reiterates “Outperform” Rating for Liquidity Services (NASDAQ:LQDT)

Liquidity Services (NASDAQ:LQDT)‘s stock had its “outperform” rating reiterated by analysts at Barrington Research in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $27.00 price target on the business services provider’s stock. Barrington Research’s price target suggests a potential upside of 8.48% from the company’s current price.

Liquidity Services Trading Up 0.6 %

Liquidity Services stock opened at $24.89 on Tuesday. Liquidity Services has a twelve month low of $13.99 and a twelve month high of $26.15. The stock has a 50 day moving average of $23.55 and a two-hundred day moving average of $21.87. The stock has a market capitalization of $759.94 million, a price-to-earnings ratio of 39.51 and a beta of 1.42.

Insiders Place Their Bets

In other news, CFO Jorge Celaya sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $22.03, for a total transaction of $220,300.00. Following the completion of the transaction, the chief financial officer now directly owns 52,407 shares of the company’s stock, valued at approximately $1,154,526.21. This represents a 16.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 29.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Liquidity Services

A number of large investors have recently modified their holdings of LQDT. Franklin Resources Inc. increased its stake in Liquidity Services by 7.3% in the 3rd quarter. Franklin Resources Inc. now owns 15,009 shares of the business services provider’s stock valued at $339,000 after purchasing an additional 1,019 shares in the last quarter. Barclays PLC increased 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 purchasing an additional 29,746 shares in the last quarter. Geode Capital Management LLC increased its stake in Liquidity Services by 0.5% in the 3rd 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 in the last quarter. Jane Street Group LLC increased its stake in Liquidity Services by 33.4% in the 3rd quarter. Jane Street Group LLC now owns 55,173 shares of the business services provider’s stock valued at $1,258,000 after purchasing an additional 13,804 shares in the last quarter. Finally, State Street Corp increased its stake in Liquidity Services by 1.7% in the 3rd quarter. State Street Corp now owns 852,306 shares of the business services provider’s stock valued at $19,433,000 after purchasing an additional 13,947 shares in the last quarter. 71.15% of the stock is owned by hedge funds and other institutional investors.

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.