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 stock in a transaction that occurred on Friday, September 30th. The shares were 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 in the company, valued at $305,747.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Liberty Tax Inc. (NASDAQ:TAX) opened at 12.78 on Friday. Liberty Tax Inc. has a 1-year low of $9.95 and a 1-year high of $24.22. The company has a market capitalization of $177.57 million, a PE ratio of 9.59 and a beta of 0.68. The stock’s 50 day moving average is $13.22 and its 200 day moving average is $13.86.
Liberty Tax (NASDAQ:TAX) last announced its 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. The company earned $7.10 million during 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 firm’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.65) earnings per share. On average, equities research analysts anticipate that Liberty Tax Inc. will post $1.39 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 24th. Investors of record on Friday, October 14th will be given a dividend of $0.16 per share. The ex-dividend date is Wednesday, October 12th. This represents a $0.64 annualized dividend and a yield of 5.01%. Liberty Tax’s payout ratio is currently 52.89%.
Separately, Zacks Investment Research raised shares of Liberty Tax from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 25th.
Institutional investors have recently bought and sold shares of the stock. Continental Advisors LLC raised its position in Liberty Tax by 26.4% in the first quarter. Continental Advisors LLC now owns 51,680 shares of the company’s stock valued at $1,012,000 after buying an additional 10,800 shares during the last quarter. Kennedy Capital Management Inc. bought a new position in Liberty Tax during the first quarter valued at $1,097,000. BB&T Securities LLC raised its position in Liberty Tax by 50.1% in the first quarter. BB&T Securities LLC now owns 124,474 shares of the company’s stock valued at $2,438,000 after buying an additional 41,524 shares during the last quarter. State Street Corp raised its position in Liberty Tax by 13.2% in the first quarter. State Street Corp now owns 60,442 shares of the company’s stock valued at $1,184,000 after buying an additional 7,053 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Liberty Tax by 3.8% in the first quarter. Geode Capital Management LLC now owns 43,086 shares of the company’s stock valued at $844,000 after buying an additional 1,567 shares during the last quarter. Institutional investors own 40.52% of the company’s stock.
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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