Liberty Tax Inc. (TAX) Insider Michael Piper Sells 4,745 Shares of Stock
Liberty Tax Inc. (NASDAQ:TAX) insider Michael Piper sold 4,745 shares of the firm’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $13.12, for a total transaction of $62,254.40. Following the completion of the transaction, the insider now owns 14,300 shares of the company’s stock, valued at $187,616. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Michael Piper also recently made the following trade(s):
- On Friday, September 30th, Michael Piper sold 8,255 shares of Liberty Tax stock. The shares were sold at an average price of $12.91, for a total transaction of $106,572.05.
Shares of Liberty Tax Inc. (NASDAQ:TAX) opened at 12.55 on Monday. Liberty Tax Inc. has a 12 month low of $9.95 and a 12 month high of $24.22. The firm’s 50-day moving average is $13.12 and its 200 day moving average is $13.68. The company has a market capitalization of $174.37 million, a price-to-earnings ratio of 9.41 and a beta of 0.70.
Liberty Tax (NASDAQ:TAX) last released its quarterly earnings results on Friday, September 2nd. The company reported ($0.66) EPS for the quarter, beating the Thomson Reuters’ 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 earned $7.10 million during the quarter, compared to analyst estimates of $7.25 million. During the same quarter in the prior year, the firm earned ($0.65) EPS. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. Equities analysts expect that Liberty Tax Inc. will post $1.39 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 24th. Stockholders of record on Friday, October 14th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 5.10%. The ex-dividend date is Wednesday, October 12th. Liberty Tax’s payout ratio is currently 52.89%.
Separately, Zacks Investment Research upgraded shares of Liberty Tax from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 25th.
Several large investors have recently added to or reduced their stakes in TAX. Citadel Advisors LLC purchased a new stake in Liberty Tax during the second quarter valued at about $158,000. California State Teachers Retirement System raised its stake in 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 in the last quarter. BlackRock Investment Management LLC raised its stake in 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 in the last quarter. Summit Securities Group LLC purchased a new stake in Liberty Tax during the second quarter valued at about $529,000. Finally, Bank of New York Mellon Corp raised its stake in 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 valued at $788,000 after buying an additional 2,882 shares in the last quarter. 40.52% of the stock is owned by hedge funds and other institutional investors.
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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