Liquidity Services (NASDAQ:LQDT) Hits New 12-Month High – Time to Buy?

Liquidity Services, Inc. (NASDAQ:LQDT)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $26.24 and last traded at $25.93, with a volume of 218369 shares trading hands. The stock had previously closed at $25.15.

Analyst Ratings Changes

LQDT has been the subject of several research reports. Craig Hallum lifted their target price on shares of Liquidity Services from $28.00 to $37.00 and gave the company a “buy” rating in a report on Friday. Barrington Research reiterated an “outperform” rating and issued a $27.00 price objective on shares of Liquidity Services in a report on Tuesday.

Liquidity Services Trading Up 5.6 %

The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 53.43 and a beta of 1.42. The stock’s fifty day simple moving average is $23.91 and its 200-day simple moving average is $22.02.

Institutional Investors Weigh In On Liquidity Services

A number of hedge funds have recently bought and sold shares of LQDT. Price T Rowe Associates Inc. MD lifted its position in shares of Liquidity Services by 4.3% during the 1st 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 last quarter. Access Investment Management LLC lifted its holdings in Liquidity Services by 81.7% during the 2nd quarter. Access Investment Management LLC now owns 82,335 shares of the business services provider’s stock worth $1,645,000 after buying an additional 37,010 shares during the last quarter. Panagora Asset Management Inc. boosted its position in shares of 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 acquiring an additional 15,592 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Liquidity Services by 6.9% in the 2nd quarter. Victory Capital Management Inc. now owns 57,606 shares of the business services provider’s stock valued at $1,151,000 after acquiring an additional 3,700 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Liquidity Services by 15.7% during the 2nd quarter. Acadian Asset Management LLC now owns 503,600 shares of the business services provider’s stock worth $10,060,000 after acquiring an additional 68,407 shares in the last quarter. Institutional investors and hedge funds own 71.15% of the company’s stock.

Liquidity Services Company Profile

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.