Zacks Investment Research upgraded shares of Liberty Tax, Inc. (NASDAQ:TAX) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday, November 8th.
According to Zacks, “Liberty Tax, Inc. provides tax preparation services. Its principal operations are conducted through its subsidiary, JTH Tax, Inc. The company engages through its subsidiaries as a franchisor and operator of a system of income tax preparation. It facilitates its customer refund-based tax settlement financial products, such as refund anticipation loans, electronic refund checks, and personal income tax refund discounting. The company also offers online tax preparation services and finance to franchisees for the purchase of franchises, clusters of territories, company?owned stores and for working capital and equipment needs. Liberty Tax Inc., formerly known as JTH Holding, Inc., is headquartered in Virginia Beach, Virginia. “
Separately, ValuEngine downgraded Liberty Tax from a buy rating to a hold rating in a report on Friday, September 1st.
Several hedge funds have recently modified their holdings of TAX. Bank of New York Mellon Corp increased its position in shares of Liberty Tax by 5.0% during the 1st 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 purchasing an additional 7,629 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of Liberty Tax by 4.4% during the 1st quarter. TIAA CREF Investment Management LLC now owns 18,876 shares of the business services provider’s stock worth $269,000 after acquiring an additional 795 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Liberty Tax by 26.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 133,677 shares of the business services provider’s stock worth $1,905,000 after acquiring an additional 28,371 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Liberty Tax by 28.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 19,055 shares of the business services provider’s stock worth $272,000 after acquiring an additional 4,200 shares in the last quarter. Finally, Creative Planning boosted its stake in shares of Liberty Tax by 14,900.0% during the 2nd quarter. Creative Planning now owns 15,000 shares of the business services provider’s stock worth $194,000 after acquiring an additional 14,900 shares in the last quarter. Institutional investors own 46.84% of the company’s stock.
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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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