Balyasny Asset Management L.P. Makes New Investment in IDT Co. (NYSE:IDT)

Balyasny Asset Management L.P. purchased a new position in IDT Co. (NYSE:IDT) during the 4th quarter, Holdings Channel reports. The fund purchased 31,468 shares of the utilities provider’s stock, valued at approximately $1,495,000.

Other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in IDT by 35.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider’s stock worth $116,000 after acquiring an additional 632 shares during the period. Quantbot Technologies LP bought a new position in IDT in the fourth quarter worth approximately $129,000. New Age Alpha Advisors LLC bought a new position in IDT in the fourth quarter worth approximately $134,000. Hennion & Walsh Asset Management Inc. bought a new position in IDT in the fourth quarter worth approximately $200,000. Finally, Raymond James Financial Inc. bought a new position in IDT in the fourth quarter worth approximately $201,000. 59.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other IDT news, CTO David Wartell sold 10,735 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total value of $525,907.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 25.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of IDT from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 18th.

IDT Price Performance

Shares of IDT stock opened at $57.65 on Wednesday. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 19.74 and a beta of 0.69. The company’s fifty day moving average price is $50.37 and its 200-day moving average price is $49.25. IDT Co. has a one year low of $33.84 and a one year high of $58.77.

IDT (NYSE:IDT) last issued its quarterly earnings results on Thursday, March 6th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%. The business had revenue of $303.35 million during the quarter.

IDT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 17th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Monday, March 17th. This is a positive change from IDT’s previous quarterly dividend of $0.05. IDT’s dividend payout ratio is presently 7.62%.

IDT Company Profile

IDT Corporation provides communications and payment services in the United States, the United Kingdom, and internationally. It operates through Fintech, National Retail Solutions, net2phone, and Traditional Communications segments. The company operates point of sale, a terminal-based platform which provides independent retailers store management software, electronic payment processing, and other ancillary merchant services; and provides marketers with digital out-of-home advertising and transaction data.