Liberty Tax Inc. (TAX) Director Robert M. Howard Acquires 10,000 Shares of Stock
Liberty Tax Inc. (NASDAQ:TAX) Director Robert M. Howard purchased 10,000 shares of the business’s stock in a transaction on Friday, September 16th. The stock was acquired at an average price of $12.66 per share, for a total transaction of $126,600.00. Following the completion of the purchase, the director now owns 60,000 shares of the company’s stock, valued at $759,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Liberty Tax Inc. (NASDAQ:TAX) opened at 12.76 on Thursday. The stock’s 50 day moving average price is $13.41 and its 200-day moving average price is $14.07. Liberty Tax Inc. has a 52-week low of $9.95 and a 52-week high of $24.41. The firm has a market cap of $177.29 million, a PE ratio of 9.57 and a beta of 0.68.
Liberty Tax (NASDAQ:TAX) last released its quarterly earnings data on Friday, September 2nd. The company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.02. The business earned $7.10 million during 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 business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.65) EPS. On average, equities research analysts anticipate 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. Stockholders of record on Friday, October 14th will be issued a dividend of $0.16 per share. The ex-dividend date is Wednesday, October 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.02%. Liberty Tax’s payout ratio is 52.89%.
Several hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC purchased a new stake in Liberty Tax during the second quarter worth approximately $158,000. California State Teachers Retirement System boosted 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 worth $190,000 after buying an additional 1,652 shares during the period. BlackRock Investment Management LLC boosted 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 worth $335,000 after buying an additional 5,486 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Liberty Tax during the second quarter worth $529,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of 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 during the period. Institutional investors and hedge funds own 40.52% of the company’s stock.
Separately, Zacks Investment Research upgraded Liberty Tax from a “strong sell” rating to a “hold” rating in a research note 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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