Liberty Tax Inc. (NASDAQ:TAX) insider Michael Piper sold 8,255 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $12.91, for a total transaction of $106,572.05. Following the sale, the insider now owns 23,683 shares of the company’s stock, valued at approximately $305,747.53. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Liberty Tax Inc. (NASDAQ:TAX) opened at 12.78 on Friday. The stock’s 50 day moving average is $13.22 and its 200-day moving average is $13.86. The firm has a market cap of $177.57 million, a P/E ratio of 9.59 and a beta of 0.68. 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 earnings results 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 had revenue of $7.10 million for the quarter, compared to analysts’ expectations of $7.25 million. Liberty Tax had a net margin of 9.16% and a return on equity of 18.09%. Liberty Tax’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.65) EPS. Analysts anticipate that Liberty Tax Inc. will post $1.39 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 24th. Shareholders of record on Friday, October 14th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $0.64 annualized dividend and a yield of 5.01%. Liberty Tax’s payout ratio is 52.89%.
Institutional investors have recently added to or reduced their stakes in the stock. 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 valued at $816,000 after buying an additional 730 shares during the last quarter. Geode Capital Management LLC raised 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 valued at $844,000 after buying an additional 1,567 shares during the period. 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 during the period. 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 during the period. Finally, BlackRock Institutional Trust Company N.A. raised 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 valued at $792,000 after buying an additional 3,715 shares during the period. 40.52% of the stock is currently owned by hedge funds and other institutional investors.
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.
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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