Connor Clark & Lunn Investment Management Ltd. Acquires New Position in Liquidity Services, Inc. (NASDAQ:LQDT)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Liquidity Services, Inc. (NASDAQ:LQDT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 84,960 shares of the business services provider’s stock, valued at approximately $2,743,000. Connor Clark & Lunn Investment Management Ltd. owned 0.28% of Liquidity Services at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in shares of Liquidity Services by 307.3% in the 3rd quarter. Barclays PLC now owns 39,427 shares of the business services provider’s stock worth $899,000 after acquiring an additional 29,746 shares during the period. Royce & Associates LP acquired a new stake in Liquidity Services in the third quarter valued at $488,000. JPMorgan Chase & Co. increased its position in shares of Liquidity Services by 102.7% in the third quarter. JPMorgan Chase & Co. now owns 59,927 shares of the business services provider’s stock valued at $1,366,000 after buying an additional 30,360 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of 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 buying an additional 61,918 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Liquidity Services in the 3rd quarter worth about $518,000. 71.15% of the stock is owned by hedge funds and other institutional investors.

Liquidity Services Trading Up 0.3 %

NASDAQ:LQDT opened at $29.93 on Tuesday. Liquidity Services, Inc. has a 12-month low of $16.79 and a 12-month high of $39.72. The firm has a market cap of $929.00 million, a price-to-earnings ratio of 39.91 and a beta of 1.26. The company’s 50-day moving average is $33.79 and its two-hundred day moving average is $28.08.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LQDT shares. StockNews.com cut shares of Liquidity Services from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Barrington Research reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Liquidity Services in a research note on Tuesday, February 11th. Finally, Craig Hallum increased their target price on Liquidity Services from $28.00 to $37.00 and gave the company a “buy” rating in a report on Friday, December 13th.

Insider Activity

In other Liquidity Services news, insider Novelette Murray sold 7,938 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $33.96, for a total transaction of $269,574.48. Following the completion of the sale, the insider now directly owns 36,181 shares in the company, valued at $1,228,706.76. The trade was a 17.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward Kolodzieski sold 2,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $31.90, for a total transaction of $63,800.00. Following the sale, the director now directly owns 17,229 shares of the company’s stock, valued at approximately $549,605.10. This trade represents a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,658 shares of company stock valued at $3,321,948 over the last quarter. 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.