Connor Clark & Lunn Investment Management Ltd. Has $3.94 Million Stock Holdings in Liquidity Services, Inc. $LQDT

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Liquidity Services, Inc. (NASDAQ:LQDT) by 28.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 166,955 shares of the business services provider’s stock after acquiring an additional 37,074 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.53% of Liquidity Services worth $3,938,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aviva PLC lifted its stake in Liquidity Services by 3.1% during the second quarter. Aviva PLC now owns 19,861 shares of the business services provider’s stock worth $469,000 after purchasing an additional 599 shares during the period. Hussman Strategic Advisors Inc. acquired a new position in shares of Liquidity Services in the 2nd quarter worth approximately $2,477,000. Access Investment Management LLC bought a new position in shares of Liquidity Services during the 2nd quarter worth approximately $3,314,000. Truist Financial Corp acquired a new stake in Liquidity Services in the 2nd quarter valued at $34,179,000. Finally, State of Alaska Department of Revenue grew its position in Liquidity Services by 8.0% in the second quarter. State of Alaska Department of Revenue now owns 13,563 shares of the business services provider’s stock valued at $319,000 after acquiring an additional 1,008 shares during the period. Institutional investors own 71.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LQDT. Barrington Research reissued an “outperform” rating and set a $40.00 price objective on shares of Liquidity Services in a report on Thursday, August 21st. Wall Street Zen downgraded shares of Liquidity Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liquidity Services in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.50.

Insiders Place Their Bets

In other Liquidity Services news, Director Jaime Mateus-Tique sold 5,403 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $27.45, for a total transaction of $148,312.35. Following the transaction, the director owned 164,562 shares of the company’s stock, valued at approximately $4,517,226.90. This represents a 3.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.40% of the stock is owned by company insiders.

Liquidity Services Trading Down 0.3%

LQDT opened at $23.18 on Friday. Liquidity Services, Inc. has a 1-year low of $21.67 and a 1-year high of $39.72. The stock has a market capitalization of $724.07 million, a PE ratio of 27.93 and a beta of 1.13. The firm has a 50-day moving average price of $25.28 and a two-hundred day moving average price of $25.24.

Liquidity Services 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.