Liberty Tax Inc. (TAX) CEO John T. Hewitt Sells 20,000 Shares of Stock
Liberty Tax Inc. (NASDAQ:TAX) CEO John T. Hewitt sold 20,000 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $12.77, for a total transaction of $255,400.00. Following the sale, the chief executive officer now owns 1,641,485 shares of the company’s stock, valued at approximately $20,961,763.45. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Liberty Tax Inc. (NASDAQ:TAX) opened at 13.15 on Thursday. Liberty Tax Inc. has a one year low of $9.95 and a one year high of $24.22. The firm has a market capitalization of $182.71 million, a PE ratio of 9.86 and a beta of 0.70. The stock’s 50 day moving average is $13.16 and its 200-day moving average is $13.73.
Liberty Tax (NASDAQ:TAX) last released its earnings results on Friday, September 2nd. The company reported ($0.66) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.68) by $0.02. The firm had revenue of $7.10 million for the quarter, compared to the consensus estimate of $7.25 million. Liberty Tax had a net margin of 9.16% and a return on equity of 18.09%. The company’s revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.65) EPS. On average, 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. Stockholders of record on Friday, October 14th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date of this dividend is Wednesday, October 12th. Liberty Tax’s dividend payout ratio is presently 52.89%.
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.
Several hedge funds have recently added to or reduced their stakes in TAX. Continental Advisors LLC increased 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 worth $2,780,000 after buying an additional 157,050 shares in the last quarter. Citadel Advisors LLC acquired a new stake in Liberty Tax during the second quarter worth $158,000. Summit Securities Group LLC acquired a new stake in Liberty Tax during the second quarter worth $529,000. State Street Corp increased its stake in Liberty Tax by 1.2% in the second quarter. State Street Corp now owns 61,172 shares of the company’s stock worth $816,000 after buying an additional 730 shares in the last quarter. Finally, TFS Capital LLC acquired a new stake in Liberty Tax during the second quarter worth $926,000. 40.52% of the stock is currently owned by hedge funds and other institutional investors.
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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