Liberty Tax Inc. (NASDAQ:TAX) Director Gordon Dangelo sold 1,587 shares of the firm’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $12.72, for a total transaction of $20,186.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Liberty Tax Inc. (NASDAQ:TAX) opened at 12.68 on Friday. The firm has a 50-day moving average of $12.96 and a 200 day moving average of $13.54. The stock has a market capitalization of $176.18 million, a price-to-earnings ratio of 9.51 and a beta of 0.70. Liberty Tax Inc. has a one year low of $9.95 and a one year high of $24.22.
Liberty Tax (NASDAQ:TAX) last released its quarterly earnings results on Friday, September 2nd. The company reported ($0.66) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.68) by $0.02. The company earned $7.10 million during the quarter, compared to analyst estimates of $7.25 million. Liberty Tax had a return on equity of 18.09% and a net margin of 9.16%. The firm’s revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.65) earnings per share. On average, equities research analysts predict that Liberty Tax Inc. will post $1.39 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 24th. Investors of record on Friday, October 14th will be given a $0.16 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $0.64 annualized dividend and a yield of 5.05%. Liberty Tax’s dividend payout ratio is currently 52.89%.
Separately, Zacks Investment Research upgraded shares of Liberty Tax from a “strong sell” rating to a “hold” rating in a report on Thursday, August 25th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC bought a new position in Liberty Tax during the second quarter valued at approximately $158,000. California State Teachers Retirement System raised its position in Liberty Tax by 13.1% in the second quarter. California State Teachers Retirement System now owns 14,270 shares of the company’s stock valued at $190,000 after buying an additional 1,652 shares in the last quarter. BlackRock Investment Management LLC raised its position in Liberty Tax by 27.9% in the second quarter. BlackRock Investment Management LLC now owns 25,140 shares of the company’s stock valued at $335,000 after buying an additional 5,486 shares in the last quarter. Summit Securities Group LLC bought a new position in Liberty Tax during the second quarter valued at approximately $529,000. Finally, Bank of New York Mellon Corp raised its position in Liberty Tax by 5.1% in the second quarter. Bank of New York Mellon Corp now owns 59,203 shares of the company’s stock valued at $788,000 after buying an additional 2,882 shares in the last quarter. Institutional investors own 40.52% of the company’s stock.
About Liberty Tax
Liberty Tax, Inc is the holding company for JTH Tax, Inc The Company is a provider of tax preparation services. The Company provides retail federal and state income tax preparation services and related tax settlement products in the United States and Canada. The Company’s tax preparation services and related tax settlement products are offered primarily through franchised locations.
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