Liberty Tax Inc. (NASDAQ:TAX) Director Robert M. Howard acquired 10,000 shares of the stock in a transaction dated Friday, September 16th. The shares were bought at an average price of $12.66 per share, with a total value of $126,600.00. Following the completion of the purchase, the director now directly owns 60,000 shares of the company’s stock, valued at approximately $759,600. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of Liberty Tax Inc. (NASDAQ:TAX) opened at 12.83 on Monday. Liberty Tax Inc. has a 1-year low of $9.95 and a 1-year high of $24.22. The stock’s 50 day moving average is $13.35 and its 200 day moving average is $14.03. The firm has a market capitalization of $178.26 million, a P/E ratio of 9.62 and a beta of 0.68.
Liberty Tax (NASDAQ:TAX) last announced its earnings results on Friday, September 2nd. The company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.02. Liberty Tax had a net margin of 9.16% and a return on equity of 18.09%. The firm had revenue of $7.10 million for the quarter, compared to the consensus estimate of $7.25 million. During the same period in the prior year, the firm earned ($0.65) EPS. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. Equities analysts predict that Liberty Tax Inc. will post $1.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 24th. Investors of record on Friday, October 14th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend is Wednesday, October 12th. Liberty Tax’s payout ratio is currently 52.89%.
Large investors have recently made changes to their positions in the company. Citadel Advisors LLC acquired a new stake in shares of Liberty Tax during the second quarter valued at $158,000. California State Teachers Retirement System increased its stake in shares of 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 last quarter. BlackRock Investment Management LLC increased its stake in shares of 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 during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Liberty Tax during the second quarter valued at $529,000. Finally, Geode Capital Management LLC increased its stake in shares of 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 last quarter. 40.52% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research downgraded shares of Liberty Tax from a “hold” rating to a “sell” rating in a research note on Saturday, June 11th.
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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