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 stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $12.77, for a total transaction of $255,400.00. Following the completion of the sale, the chief executive officer now owns 1,641,485 shares in the company, valued at $20,961,763.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Liberty Tax Inc. (NASDAQ:TAX) opened at 13.15 on Thursday. 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 $13.16 and its 200 day moving average is $13.73. The company has a market cap of $182.71 million, a P/E ratio of 9.86 and a beta of 0.70.
Liberty Tax (NASDAQ:TAX) last released its earnings results on Friday, September 2nd. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $7.10 million for the quarter, compared to the consensus estimate of $7.25 million. During the same quarter in the previous year, the company earned ($0.65) EPS. Liberty Tax’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, analysts anticipate that Liberty Tax Inc. will post $1.39 EPS for the current fiscal year.
The business also recently announced 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 dividend on an annualized basis and a dividend yield of 4.87%. Liberty Tax’s payout ratio is presently 52.89%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP increased its position in Liberty Tax by 3.6% in the second quarter. Royce & Associates LP now owns 725,128 shares of the company’s stock worth $9,659,000 after buying an additional 25,000 shares during the last quarter. Continental Advisors LLC increased its position 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 during the last quarter. Vanguard Group Inc. increased its position in Liberty Tax by 2.2% in the second quarter. Vanguard Group Inc. now owns 198,249 shares of the company’s stock worth $2,640,000 after buying an additional 4,328 shares during the last quarter. BlackRock Fund Advisors increased its position in Liberty Tax by 16.0% in the second quarter. BlackRock Fund Advisors now owns 179,731 shares of the company’s stock worth $2,394,000 after buying an additional 24,762 shares during the last quarter. Finally, BB&T Securities LLC increased 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 worth $2,438,000 after buying an additional 41,524 shares during the last quarter. Institutional investors own 40.52% of the company’s stock.
Separately, Zacks Investment Research downgraded shares of Liberty Tax from a “hold” rating to a “sell” rating in a research report on Saturday, June 11th.
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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