SG Americas Securities LLC Purchases Shares of 14,602 IDT Corporation $IDT

SG Americas Securities LLC acquired a new position in shares of IDT Corporation (NYSE:IDT) in the 4th quarter, Holdings Channel.com reports. The fund acquired 14,602 shares of the utilities provider’s stock, valued at approximately $748,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC lifted its position in IDT by 392.6% in the 1st quarter. Millennium Management LLC now owns 163,830 shares of the utilities provider’s stock valued at $8,406,000 after acquiring an additional 130,569 shares in the last quarter. Marshall Wace LLP boosted its stake in IDT by 1,436.4% in the 2nd quarter. Marshall Wace LLP now owns 94,674 shares of the utilities provider’s stock worth $6,468,000 after purchasing an additional 88,512 shares during the period. AQR Capital Management LLC increased its holdings in IDT by 40.2% during the 1st quarter. AQR Capital Management LLC now owns 58,197 shares of the utilities provider’s stock worth $2,986,000 after purchasing an additional 16,678 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of IDT by 310.8% in the 2nd quarter. Lazard Asset Management LLC now owns 53,340 shares of the utilities provider’s stock valued at $3,643,000 after purchasing an additional 40,357 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of IDT by 27.0% in the 3rd quarter. California State Teachers Retirement System now owns 19,481 shares of the utilities provider’s stock valued at $1,019,000 after purchasing an additional 4,136 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Marcelo Fischer sold 7,009 shares of IDT stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $52.03, for a total transaction of $364,678.27. Following the completion of the transaction, the chief financial officer owned 56,863 shares in the company, valued at approximately $2,958,581.89. This trade represents a 10.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 25.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of IDT in a research report on Friday, March 27th. Wall Street Zen cut IDT from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

IDT Trading Down 0.6%

Shares of IDT opened at $49.69 on Friday. The company’s fifty day simple moving average is $49.18 and its 200 day simple moving average is $50.27. IDT Corporation has a 1-year low of $45.72 and a 1-year high of $71.12. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 15.24 and a beta of 0.70.

IDT (NYSE:IDT) last announced its quarterly earnings results on Tuesday, March 10th. The utilities provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.10. IDT had a net margin of 6.49% and a return on equity of 25.97%. The firm had revenue of $320.52 million during the quarter, compared to analysts’ expectations of $302.00 million.

IDT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 19th were paid a $0.07 dividend. This is an increase from IDT’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, March 19th. This represents a $0.28 annualized dividend and a yield of 0.6%. IDT’s dividend payout ratio (DPR) is 8.59%.

About IDT

IDT Corporation, founded in 1990 and headquartered in Newark, New Jersey, is a diversified global provider of telecommunications and payment services. The company operates through its primary communications arm, IDT Telecom, and a digital solutions segment that encompasses cross-border money transfers and related fintech offerings. Since its inception, IDT has built an international network infrastructure to support voice and data transmission across more than 200 countries and territories.

Through IDT Telecom, the company offers a suite of voice communication products, including prepaid phone cards, VoIP services, SIP trunking and operator-assisted calling.