H&R Block, Inc. (HRB) Short Interest Down 17.1% in June
H&R Block, Inc. (NYSE:HRB) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 20,600,381 shares, a drop of 17.1% from the June 15th total of 24,845,460 shares. Currently, 10.0% of the company’s stock are short sold. Based on an average daily volume of 4,353,484 shares, the days-to-cover ratio is presently 4.7 days.
In other H&R Block news, insider William C. Cobb sold 387,740 shares of H&R Block stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $31.19, for a total transaction of $12,093,610.60. Following the completion of the transaction, the insider now owns 658,463 shares in the company, valued at $20,537,460.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William C. Cobb sold 300,700 shares of H&R Block stock in a transaction on Friday, June 30th. The shares were sold at an average price of $31.11, for a total value of $9,354,777.00. Following the transaction, the insider now owns 852,158 shares of the company’s stock, valued at approximately $26,510,635.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,470,540 shares of company stock valued at $45,220,248. 1.30% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. Alpha Windward LLC purchased a new position in shares of H&R Block during the second quarter worth about $578,000. Louisiana State Employees Retirement System raised its position in shares of H&R Block by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 12,900 shares of the company’s stock worth $399,000 after buying an additional 200 shares during the period. Nisa Investment Advisors LLC raised its position in shares of H&R Block by 9.9% in the second quarter. Nisa Investment Advisors LLC now owns 113,525 shares of the company’s stock worth $3,480,000 after buying an additional 10,201 shares during the period. LS Investment Advisors LLC raised its position in shares of H&R Block by 4.1% in the second quarter. LS Investment Advisors LLC now owns 15,056 shares of the company’s stock worth $465,000 after buying an additional 588 shares during the period. Finally, Exane Derivatives purchased a new position in shares of H&R Block during the second quarter worth about $2,482,000. Institutional investors own 92.91% of the company’s stock.
Shares of H&R Block (NYSE:HRB) opened at 30.35 on Wednesday. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 15.94 and a beta of 0.54. The company has a 50 day moving average price of $27.73 and a 200 day moving average price of $24.16. H&R Block has a one year low of $19.85 and a one year high of $31.70.
H&R Block (NYSE:HRB) last issued its earnings results on Tuesday, June 13th. The company reported $3.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.53 by $0.23. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.32 billion. H&R Block had a negative return on equity of 104.14% and a net margin of 13.47%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business posted $3.16 EPS. Equities analysts predict that H&R Block will post $1.99 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Friday, June 23rd were paid a $0.24 dividend. This is a positive change from H&R Block’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $0.96 dividend on an annualized basis and a yield of 3.16%. H&R Block’s dividend payout ratio (DPR) is 47.76%.
HRB has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on H&R Block from $24.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 14th. Credit Suisse Group reiterated a “neutral” rating and set a $29.00 price objective (up previously from $27.00) on shares of H&R Block in a research note on Wednesday, June 14th. Zacks Investment Research cut H&R Block from a “buy” rating to a “hold” rating in a research note on Monday, May 29th. BMO Capital Markets lifted their price objective on H&R Block from $26.00 to $31.00 and gave the company a “market perform” rating in a research note on Friday, June 16th. Finally, BTIG Research reiterated a “sell” rating and set a $17.00 price objective on shares of H&R Block in a research note on Monday, May 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. H&R Block has a consensus rating of “Hold” and a consensus target price of $27.67.
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H&R Block Company Profile
H&R Block, Inc (H&R Block), through its subsidiaries, provides tax preparation and other services. The Company provides assisted income tax return preparation, digital do-it-yourself (DIY) tax solutions and other services and products related to income tax return preparation to the general public primarily in the United States, Canada, Australia and their respective territories.
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