Liberty Tax Inc. (NASDAQ:TAX) CEO John T. Hewitt sold 20,000 shares of Liberty Tax stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $12.77, for a total transaction of $255,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,641,485 shares in the company, valued at $20,961,763.45. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Liberty Tax Inc. (NASDAQ:TAX) opened at 12.81 on Wednesday. The stock has a market capitalization of $177.98 million, a price-to-earnings ratio of 9.61 and a beta of 0.70. The company has a 50-day moving average of $13.16 and a 200-day moving average of $13.73. Liberty Tax Inc. has a 52-week low of $9.95 and a 52-week high of $24.22.
Liberty Tax (NASDAQ:TAX) last issued its earnings results on Friday, September 2nd. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.68) by $0.02. Liberty Tax had a return on equity of 18.09% and a net margin of 9.16%. The business earned $7.10 million during the quarter, compared to analysts’ expectations of $7.25 million. During the same quarter in the previous year, the business earned ($0.65) EPS. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. Equities research analysts expect 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. Shareholders of record on Friday, October 14th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend is Wednesday, October 12th. Liberty Tax’s dividend payout ratio is presently 52.89%.
Separately, Zacks Investment Research raised shares of Liberty Tax from a “sell” rating to a “hold” rating in a report on Tuesday, September 27th.
A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in Liberty Tax by 1.2% in the second quarter. State Street Corp now owns 61,172 shares of the company’s stock worth $816,000 after buying an additional 730 shares in the last quarter. Geode Capital Management LLC boosted its position in Liberty Tax by 3.8% in the first quarter. Geode Capital Management LLC now owns 43,086 shares of the company’s stock worth $844,000 after buying an additional 1,567 shares in the last quarter. California State Teachers Retirement System boosted 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 worth $190,000 after buying an additional 1,652 shares in the last quarter. Bank of New York Mellon Corp boosted 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 worth $788,000 after buying an additional 2,882 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Liberty Tax by 6.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 59,488 shares of the company’s stock worth $792,000 after buying an additional 3,715 shares in the last quarter. Hedge funds and other institutional investors own 40.52% of the company’s stock.
Liberty Tax Company Profile
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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