The Bank of New York Mellon Corp Sold shares of Liquidity Services Inc. (LQDT)

The Bank of New York Mellon Corp Sold shares of Liquidity Services Inc. (LQDT)

Bank of New York Mellon Corp lowered its position in shares of Liquidity Services Inc. (NASDAQ:LQDT) by 10.4% during the second quarter, Holdings Channel reports. The institutional investor owned 233,853 shares of the company’s stock after selling 27,056 shares during the period. Bank of New York Mellon Corp owned 0.76% of Liquidity Services worth $1,834,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC increased its position in shares of Liquidity Services by 9.5% in the second quarter. Acadian Asset Management LLC now owns 1,054,694 shares of the company’s stock worth $8,269,000 after buying an additional 91,489 shares in the last quarter. Eagle Boston Investment Management Inc. increased its position in shares of Liquidity Services by 2.7% in the second quarter. Eagle Boston Investment Management Inc. now owns 242,058 shares of the company’s stock worth $1,897,000 after buying an additional 6,290 shares in the last quarter. Sterneck Capital Management LLC acquired a new position in shares of Liquidity Services during the first quarter worth about $853,000. Aristotle Capital Boston LLC increased its position in shares of Liquidity Services by 8.0% in the first quarter. Aristotle Capital Boston LLC now owns 157,288 shares of the company’s stock worth $815,000 after buying an additional 11,645 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Liquidity Services by 483.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 77,593 shares of the company’s stock worth $402,000 after buying an additional 64,293 shares in the last quarter. Institutional investors own 65.33% of the company’s stock.

Liquidity Services Inc. (NASDAQ:LQDT) traded down 2.44% on Friday, hitting $10.00. The company’s stock had a trading volume of 133,513 shares. The firm has a 50 day moving average of $10.10 and a 200 day moving average of $7.74. The firm’s market cap is $307.41 million. Liquidity Services Inc. has a 12 month low of $4.42 and a 12 month high of $11.49.

Liquidity Services (NASDAQ:LQDT) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.16. The firm earned $85.18 million during the quarter, compared to analyst estimates of $72.48 million. Liquidity Services had a negative return on equity of 3.11% and a negative net margin of 15.72%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 earnings per share. Equities research analysts forecast that Liquidity Services Inc. will post ($0.09) earnings per share for the current fiscal year.

Separately, Zacks Investment Research downgraded Liquidity Services from a “buy” rating to a “hold” rating in a report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.65.

In related news, insider Segundo Leoncio Casusol sold 32,648 shares of Liquidity Services stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $9.60, for a total value of $313,420.80. Following the completion of the transaction, the insider now owns 12,348 shares in the company, valued at $118,540.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jorge Celaya sold 6,636 shares of Liquidity Services stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $10.65, for a total value of $70,673.40. Following the completion of the transaction, the chief financial officer now owns 53,382 shares of the company’s stock, valued at approximately $568,518.30. The disclosure for this sale can be found here. Insiders own 21.60% of the company’s stock.

Liquidity Services Company Profile

Liquidity Services, Inc is an online auction marketplace for surplus and salvage assets. The Company operates through the operating auction marketplaces for sellers and buyers of surplus, salvage and scrap assets segment. The Company enables buyers and sellers to transact in an automated online auction environment offering over 500 product categories.

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