Liberty Tax Inc. (NASDAQ:TAX) Director Gordon Dangelo sold 1,587 shares of the firm’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $12.72, for a total transaction of $20,186.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of Liberty Tax Inc. (NASDAQ:TAX) traded up 2.18% during midday trading on Wednesday, reaching $12.67. 55,531 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $13.00 and a 200 day moving average price of $13.55. Liberty Tax Inc. has a 12 month low of $9.95 and a 12 month high of $24.22. The company has a market cap of $176.04 million, a P/E ratio of 9.50 and a beta of 0.70.
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, beating the consensus estimate of ($0.68) by $0.02. The company had revenue of $7.10 million for the quarter, compared to the consensus estimate of $7.25 million. Liberty Tax had a return on equity of 18.09% and a net margin of 9.16%. The firm’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. Equities research analysts forecast that Liberty Tax Inc. will post $1.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 24th. Shareholders of record on Friday, October 14th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date is Wednesday, October 12th. Liberty Tax’s payout ratio is 52.89%.
A number of hedge funds have recently added to or reduced their stakes in TAX. Kennedy Capital Management Inc. purchased a new stake in Liberty Tax during the first quarter worth about $1,097,000. BB&T Securities LLC increased 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 worth $2,438,000 after buying an additional 41,524 shares during the last quarter. State Street Corp increased its stake in Liberty Tax by 13.2% in the first quarter. State Street Corp now owns 60,442 shares of the company’s stock worth $1,184,000 after buying an additional 7,053 shares during the last quarter. Geode Capital Management LLC increased its stake 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 during the last quarter. Finally, Rutabaga Capital Management LLC MA purchased a new stake in Liberty Tax during the second quarter worth about $1,527,000. 40.52% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised shares of 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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