Michael Piper Sells 8,255 Shares of Liberty Tax Inc. (TAX) Stock
Liberty Tax Inc. (NASDAQ:TAX) insider Michael Piper sold 8,255 shares of the company’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $12.91, for a total transaction of $106,572.05. Following the sale, the insider now directly owns 23,683 shares of the company’s stock, valued at approximately $305,747.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Liberty Tax Inc. (NASDAQ:TAX) opened at 12.78 on Friday. The stock has a market cap of $177.57 million, a price-to-earnings ratio of 9.59 and a beta of 0.68. Liberty Tax Inc. has a 12-month low of $9.95 and a 12-month high of $24.22. The stock’s 50 day moving average is $13.22 and its 200-day moving average is $13.86.
Liberty Tax (NASDAQ:TAX) last issued its quarterly earnings results on Friday, September 2nd. The company reported ($0.66) earnings per share for the quarter, beating the Zacks’ 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 the consensus estimate of $7.25 million. During the same period in the previous year, the business earned ($0.65) EPS. The business’s quarterly revenue was down 5.3% on a year-over-year basis. Equities analysts anticipate that Liberty Tax Inc. will post $1.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 24th. Stockholders of record on Friday, October 14th will be issued a $0.16 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.01%. Liberty Tax’s dividend payout ratio (DPR) is 52.89%.
Several large investors have recently modified their holdings of TAX. Continental Advisors LLC increased its stake in shares of 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 during the period. Rutabaga Capital Management LLC MA purchased a new stake in shares of Liberty Tax during the second quarter worth $1,527,000. TFS Capital LLC purchased a new stake in shares of Liberty Tax during the second quarter worth $926,000. Kennedy Capital Management Inc. purchased a new stake in shares of Liberty Tax during the first quarter worth $1,097,000. Finally, BB&T Securities LLC increased its stake in shares of 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 period. Institutional investors and hedge funds own 40.52% of the company’s stock.
Separately, Zacks Investment Research raised shares of Liberty Tax from a “strong sell” rating to a “hold” rating in a 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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