Insider Buying: Liberty Tax Inc. (TAX) Director Purchases 10,000 Shares of Stock
Liberty Tax Inc. (NASDAQ:TAX) Director Robert M. Howard purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The stock was bought at an average cost of $12.66 per share, with a total value of $126,600.00. Following the purchase, the director now owns 60,000 shares of the company’s stock, valued at $759,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of Liberty Tax Inc. (NASDAQ:TAX) opened at 12.76 on Wednesday. The stock’s 50 day moving average price is $13.42 and its 200 day moving average price is $14.08. The company has a market capitalization of $177.29 million, a PE ratio of 9.57 and a beta of 0.68. Liberty Tax Inc. has a 12-month low of $9.95 and a 12-month high of $24.44.
Liberty Tax (NASDAQ:TAX) last posted its quarterly earnings results on Friday, September 2nd. The company reported ($0.66) earnings per share for the quarter, topping the 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 return on equity of 18.09% and a net margin of 9.16%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.65) EPS. On average, equities research analysts forecast that Liberty Tax Inc. will post $1.39 earnings per share for the current year.
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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 paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $0.64 annualized dividend and a dividend yield of 5.02%. Liberty Tax’s payout ratio is 52.89%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in Liberty Tax by 1.2% in the second quarter. State Street Corp now owns 61,172 shares of the company’s stock valued at $816,000 after buying an additional 730 shares during the last quarter. Geode Capital Management LLC increased 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. California State Teachers Retirement System increased its position 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 during the last quarter. Bank of New York Mellon Corp increased its position 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 during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in Liberty Tax by 6.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 59,488 shares of the company’s stock valued at $792,000 after buying an additional 3,715 shares during the last quarter. Institutional investors own 40.52% of the company’s stock.
Separately, Zacks Investment Research raised Liberty Tax from a “strong sell” rating to a “hold” rating in a research note 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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