Zacks Investment Research upgraded shares of Liberty Tax (NASDAQ:TAX) from a sell rating to a hold rating in a report issued on Friday.
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 lowered shares of Liberty Tax from a buy rating to a hold rating in a research report on Sunday, December 31st.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 23rd. Shareholders of record on Friday, January 12th were given a $0.16 dividend. The ex-dividend date was Thursday, January 11th. This represents a $0.64 annualized dividend and a yield of 6.27%. Liberty Tax’s dividend payout ratio (DPR) is 80.00%.
A number of institutional investors have recently bought and sold shares of TAX. Citigroup Inc. grew its position in Liberty Tax by 6.6% in the second quarter. Citigroup Inc. now owns 8,654 shares of the business services provider’s stock worth $112,000 after buying an additional 535 shares during the last quarter. Bessemer Group Inc. acquired a new position in Liberty Tax in the fourth quarter worth approximately $132,000. Dynamic Technology Lab Private Ltd acquired a new position in Liberty Tax in the third quarter worth approximately $160,000. Cornerstone Capital Management Holdings LLC. acquired a new position in Liberty Tax in the second quarter worth approximately $171,000. Finally, OxFORD Asset Management LLP acquired a new position in Liberty Tax in the third quarter worth approximately $184,000. Hedge funds and other institutional investors own 47.62% of the company’s stock.
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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