Victory Capital Management Inc. Trims Stake in Liquidity Services, Inc. (NASDAQ:LQDT)

Victory Capital Management Inc. cut its holdings in shares of Liquidity Services, Inc. (NASDAQ:LQDT) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,914 shares of the business services provider’s stock after selling 692 shares during the quarter. Victory Capital Management Inc.’s holdings in Liquidity Services were worth $1,298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LQDT. Vanguard Group Inc. boosted its position in shares of Liquidity Services by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 1,821,231 shares of the business services provider’s stock worth $33,875,000 after purchasing an additional 52,997 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Liquidity Services by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,894 shares of the business services provider’s stock worth $389,000 after purchasing an additional 870 shares during the period. GAMMA Investing LLC increased its stake in Liquidity Services by 19.2% during the second quarter. GAMMA Investing LLC now owns 3,357 shares of the business services provider’s stock worth $67,000 after purchasing an additional 540 shares during the period. Access Investment Management LLC boosted its holdings in Liquidity Services by 81.7% in the second quarter. Access Investment Management LLC now owns 82,335 shares of the business services provider’s stock valued at $1,645,000 after purchasing an additional 37,010 shares during the period. Finally, Panagora Asset Management Inc. grew its stake in Liquidity Services by 14.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 122,404 shares of the business services provider’s stock worth $2,446,000 after purchasing an additional 15,592 shares in the last quarter. 71.15% of the stock is owned by institutional investors and hedge funds.

Liquidity Services Price Performance

Shares of NASDAQ LQDT opened at $25.59 on Wednesday. Liquidity Services, Inc. has a 1 year low of $13.99 and a 1 year high of $25.85. The company has a market capitalization of $781.26 million, a price-to-earnings ratio of 40.62 and a beta of 1.39. The business has a 50-day moving average of $23.01 and a two-hundred day moving average of $21.44.

Insider Activity

In other Liquidity Services news, CFO Jorge Celaya sold 10,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were 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 owns 52,407 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Daunt sold 7,403 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $21.26, for a total transaction of $157,387.78. Following the completion of the sale, the executive vice president now owns 43,309 shares of the company’s stock, valued at $920,749.34. This trade represents a 14.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,105 shares of company stock worth $1,349,177. Corporate insiders own 29.77% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $27.00 target price on shares of Liquidity Services in a report on Monday, August 26th.

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.