Nantahala Capital Management LLC Increases Position in Liberty Tax Inc (TAX)

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Nantahala Capital Management LLC lifted its position in Liberty Tax Inc (NASDAQ:TAX) by 19.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 808,239 shares of the business services provider’s stock after purchasing an additional 129,202 shares during the period. Nantahala Capital Management LLC owned 6.30% of Liberty Tax worth $6,527,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Creative Planning purchased a new stake in Liberty Tax during the second quarter worth $121,000. LMR Partners LLP purchased a new stake in Liberty Tax during the second quarter worth $219,000. Millennium Management LLC lifted its holdings in Liberty Tax by 119.1% during the fourth quarter. Millennium Management LLC now owns 32,127 shares of the business services provider’s stock worth $353,000 after buying an additional 17,462 shares during the period. Hartford Investment Management Co. purchased a new stake in Liberty Tax during the second quarter worth $268,000. Finally, Mackay Shields LLC purchased a new stake in Liberty Tax during the first quarter worth $398,000. Hedge funds and other institutional investors own 49.01% of the company’s stock.

Shares of TAX stock opened at $9.20 on Thursday. The firm has a market cap of $117.97 million, a PE ratio of 8.00 and a beta of 0.87. Liberty Tax Inc has a 12-month low of $7.75 and a 12-month high of $14.70.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 10th. Stockholders of record on Friday, July 27th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.96%. The ex-dividend date was Thursday, July 26th. Liberty Tax’s payout ratio is presently 55.65%.

In related news, Director John T. Hewitt sold 1,946,665 shares of the company’s stock in a transaction on Thursday, July 19th. The stock was sold at an average price of $8.70, for a total value of $16,935,985.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Vintage Capital Management Llc bought 280,000 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The stock was purchased at an average cost of $9.05 per share, for a total transaction of $2,534,000.00. The disclosure for this purchase can be found here. Corporate insiders own 15.30% of the company’s stock.

Separately, ValuEngine downgraded Liberty Tax from a “hold” rating to a “sell” rating in a research report on Tuesday, May 22nd.

Liberty Tax Company Profile

Liberty Tax, Inc, together with its subsidiaries, provides tax preparation services and solutions in the United States and Canada. The company also facilitates refund-based tax settlement financial products, such as refund transfer products, refund-based loans, and personal income tax refund discounting, as well as provides an online digital Do-It-Yourself tax program in the United States.

Further Reading: Risk Tolerance and Your Investment Decisions

Institutional Ownership by Quarter for Liberty Tax (NASDAQ:TAX)

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