Liberty Tax Inc. (NASDAQ:TAX) CEO John T. Hewitt sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $12.77, for a total value of $255,400.00. Following the transaction, the chief executive officer now directly owns 1,641,485 shares in the company, valued at approximately $20,961,763.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Liberty Tax Inc. (NASDAQ:TAX) opened at 12.55 on Monday. The firm’s 50 day moving average price is $13.12 and its 200 day moving average price is $13.68. The firm has a market cap of $174.37 million, a price-to-earnings ratio of 9.41 and a beta of 0.70. Liberty Tax Inc. has a 52-week low of $9.95 and a 52-week 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, topping the 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 last year, the firm posted ($0.65) earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. Equities research analysts anticipate that Liberty Tax Inc. will post $1.39 EPS for the current fiscal 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. The ex-dividend date is Wednesday, October 12th. This represents a $0.64 annualized dividend and a yield of 5.10%. Liberty Tax’s dividend payout ratio is currently 52.89%.
A number of large investors have recently added to or reduced their stakes in TAX. Continental Advisors LLC boosted its stake in Liberty Tax by 303.9% in the second quarter. Continental Advisors LLC now owns 208,730 shares of the company’s stock valued at $2,780,000 after buying an additional 157,050 shares in the last quarter. Rutabaga Capital Management LLC MA acquired a new stake in Liberty Tax during the second quarter valued at approximately $1,527,000. TFS Capital LLC acquired a new stake in Liberty Tax during the second quarter valued at approximately $926,000. Kennedy Capital Management Inc. acquired a new stake in Liberty Tax during the first quarter valued at approximately $1,097,000. Finally, BB&T Securities LLC boosted its stake in 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 in the last quarter. 40.52% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised Liberty Tax from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 25th.
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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