TIAA CREF Investment Management LLC Purchases 795 Shares of Liberty Tax, Inc. (TAX)
TIAA CREF Investment Management LLC increased its stake in Liberty Tax, Inc. (NASDAQ:TAX) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,876 shares of the business services provider’s stock after buying an additional 795 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.14% of Liberty Tax worth $269,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Palladium Partners LLC raised its position in shares of Liberty Tax by 3.0% in the first quarter. Palladium Partners LLC now owns 11,542 shares of the business services provider’s stock valued at $165,000 after buying an additional 334 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Liberty Tax during the first quarter valued at approximately $226,000. Acadian Asset Management LLC raised its position in Liberty Tax by 41.5% in the first quarter. Acadian Asset Management LLC now owns 20,198 shares of the business services provider’s stock valued at $288,000 after buying an additional 5,919 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Liberty Tax by 57.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 105,306 shares of the business services provider’s stock valued at $1,411,000 after buying an additional 38,620 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Liberty Tax by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 159,346 shares of the business services provider’s stock valued at $2,271,000 after buying an additional 7,629 shares during the last quarter. Institutional investors and hedge funds own 45.95% of the company’s stock.
Shares of Liberty Tax, Inc. (NASDAQ TAX) traded down 1.46% during mid-day trading on Wednesday, reaching $13.50. 6,993 shares of the company’s stock traded hands. The company has a market capitalization of $187.41 million, a P/E ratio of 14.44 and a beta of 0.84. The firm has a 50-day moving average price of $13.88 and a 200-day moving average price of $14.07. Liberty Tax, Inc. has a 1-year low of $10.88 and a 1-year high of $16.19.
Liberty Tax (NASDAQ:TAX) last released its quarterly earnings data on Wednesday, June 14th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.42 by $0.19. Liberty Tax had a net margin of 7.48% and a return on equity of 15.84%. The business had revenue of $111.20 million during the quarter, compared to analyst estimates of $113.50 million. During the same period in the previous year, the business earned $2.32 earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities research analysts forecast that Liberty Tax, Inc. will post $1.25 earnings per share for the current fiscal year.
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Several research analysts recently commented on TAX shares. ValuEngine lowered shares of Liberty Tax from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research lowered shares of Liberty Tax from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 21st.
In related news, insider Michael Piper sold 13,750 shares of Liberty Tax stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $12.93, for a total transaction of $177,787.50. Following the completion of the sale, the insider now directly owns 4,300 shares of the company’s stock, valued at approximately $55,599. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John T. Hewitt sold 40,000 shares of Liberty Tax stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $12.31, for a total value of $492,400.00. Following the sale, the chief executive officer now directly owns 1,600,316 shares of the company’s stock, valued at $19,699,889.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,983 shares of company stock valued at $993,023. Insiders own 40.40% of the company’s stock.
Liberty Tax Company Profile
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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