GSA Capital Partners LLP lowered its stake in shares of Liberty Tax Inc. (NASDAQ:TAX) by 5.9% during the second quarter, Holdings Channel reports. The firm owned 34,278 shares of the company’s stock after selling 2,132 shares during the period. GSA Capital Partners LLP owned 0.25% of Liberty Tax worth $457,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. BB&T Securities LLC raised its stake in shares of Liberty Tax by 50.1% in the first quarter. BB&T Securities LLC now owns 124,474 shares of the company’s stock valued at $2,438,000 after buying an additional 41,524 shares during the period. Rutabaga Capital Management LLC MA acquired a new stake in shares of Liberty Tax during the second quarter valued at about $1,527,000. State Street Corp raised its stake in shares of Liberty Tax by 13.2% in the first quarter. State Street Corp now owns 60,442 shares of the company’s stock valued at $1,184,000 after buying an additional 7,053 shares during the period. Bank of New York Mellon Corp raised its stake in shares of 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 during the period. Finally, Kennedy Capital Management Inc. acquired a new stake in shares of Liberty Tax during the first quarter valued at about $1,097,000. Institutional investors own 40.52% of the company’s stock.
Liberty Tax Inc. (NASDAQ:TAX) traded up 0.87% during trading on Monday, hitting $12.73. 109,669 shares of the company’s stock were exchanged. Liberty Tax Inc. has a 12-month low of $9.95 and a 12-month high of $25.00. The firm has a market cap of $176.87 million, a price-to-earnings ratio of 9.55 and a beta of 0.68. The company’s 50-day moving average price is $13.81 and its 200 day moving average price is $14.31.
Liberty Tax (NASDAQ:TAX) last announced its quarterly earnings data on Friday, September 2nd. The company reported ($0.66) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.68) by $0.02. The firm earned $7.10 million during the quarter, compared to analyst estimates of $7.25 million. Liberty Tax had a net margin of 9.16% and a return on equity of 18.09%. Liberty Tax’s revenue was down 5.3% on a year-over-year basis. During the same period last year, the firm posted ($0.65) EPS. Equities analysts forecast that Liberty Tax Inc. will post $1.39 earnings per share for the current fiscal year.
The business also recently disclosed 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. This represents a $0.64 annualized dividend and a dividend yield of 5.03%. The ex-dividend date is Wednesday, October 12th. Liberty Tax’s 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 research report on Thursday, August 25th.
In other Liberty Tax news, CEO John T. Hewitt sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $12.73, for a total transaction of $254,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,671,651 shares of the company’s stock, valued at approximately $21,280,117.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert M. Howard purchased 3,800 shares of Liberty Tax stock in a transaction on Monday, June 27th. The shares were acquired at an average cost of $12.30 per share, with a total value of $46,740.00. Following the completion of the transaction, the director now directly owns 27,000 shares in the company, valued at approximately $332,100. The disclosure for this purchase can be found here. 46.80% of the stock is currently owned by corporate insiders.
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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