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

Balyasny Asset Management L.P. acquired a new stake in shares of IDT Co. (NYSE:IDT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 31,468 shares of the utilities provider's stock, valued at approximately $1,495,000. Balyasny Asset Management L.P. owned approximately 0.12% of IDT at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC bought a new position in shares of IDT during the 4th quarter valued at about $1,018,000. JPMorgan Chase & Co. lifted its holdings in shares of IDT by 10.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 55,876 shares of the utilities provider's stock valued at $2,133,000 after purchasing an additional 5,417 shares in the last quarter. Barclays PLC lifted its holdings in shares of IDT by 240.3% during the 3rd quarter. Barclays PLC now owns 27,066 shares of the utilities provider's stock valued at $1,034,000 after purchasing an additional 19,112 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of IDT by 26.0% during the 4th quarter. New York State Common Retirement Fund now owns 5,329 shares of the utilities provider's stock valued at $253,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in shares of IDT during the 4th quarter valued at about $286,000. Institutional investors 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 report on Tuesday, March 18th.

Insiders Place Their Bets

In other IDT news, CTO David Wartell sold 10,735 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total transaction of $525,907.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 25.32% of the company's stock.

IDT Stock Performance

NYSE IDT traded up $1.04 during trading on Monday, hitting $61.86. The stock had a trading volume of 122,225 shares, compared to its average volume of 98,201. The company has a market capitalization of $1.56 billion, a PE ratio of 21.18 and a beta of 0.69. The company's 50-day moving average price is $51.16 and its two-hundred day moving average price is $49.63. IDT Co. has a 12 month low of $33.84 and a 12 month high of $62.13.

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

IDT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 17th were paid a $0.06 dividend. This is a boost from IDT's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.24 annualized dividend and a yield of 0.39%. IDT's payout ratio 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.