Alta Fox Capital Management LLC Sells 210,154 Shares of IDT Co. (NYSE:IDT)

Alta Fox Capital Management LLC lessened its stake in shares of IDT Co. (NYSE:IDT - Free Report) by 68.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 98,935 shares of the utilities provider's stock after selling 210,154 shares during the quarter. IDT comprises approximately 1.7% of Alta Fox Capital Management LLC's holdings, making the stock its 12th largest position. Alta Fox Capital Management LLC owned about 0.39% of IDT worth $4,701,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in IDT by 35.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider's stock valued at $116,000 after purchasing an additional 632 shares during the last quarter. Quantbot Technologies LP acquired a new position in IDT in the 4th quarter valued at $129,000. New Age Alpha Advisors LLC bought a new position in IDT in the 4th quarter worth $134,000. Hennion & Walsh Asset Management Inc. bought a new stake in IDT during the fourth quarter valued at about $200,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of IDT in the fourth quarter valued at about $201,000. Institutional investors and hedge funds own 59.34% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded IDT from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, March 18th.

Insider Activity

In other IDT news, CTO David Wartell sold 10,735 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were 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 SEC, which is accessible through the SEC website. 25.32% of the stock is currently owned by company insiders.

IDT Trading Up 3.0 %

Shares of IDT stock opened at $52.44 on Friday. IDT Co. has a 1 year low of $33.84 and a 1 year high of $58.77. The company's fifty day simple moving average is $49.40 and its 200-day simple moving average is $48.85. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 17.96 and a beta of 0.58.

IDT (NYSE:IDT - Get Free Report) last posted its quarterly earnings data on Thursday, March 6th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter. IDT had a net margin of 6.10% and a return on equity of 22.18%. The company had revenue of $303.35 million for the quarter.

IDT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 17th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from IDT's previous quarterly dividend of $0.05. IDT's dividend payout ratio (DPR) is presently 7.62%.

IDT 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.

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