Cubist Systematic Strategies LLC Boosts Position in IDT Co. (NYSE:IDT)

Cubist Systematic Strategies LLC boosted its holdings in IDT Co. (NYSE:IDT - Free Report) by 56.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 31,985 shares of the utilities provider's stock after buying an additional 11,599 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.13% of IDT worth $1,520,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Proficio Capital Partners LLC purchased a new stake in shares of IDT during the fourth quarter valued at approximately $1,018,000. JPMorgan Chase & Co. raised its stake in shares of IDT by 10.7% during the third 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 during the period. Barclays PLC raised its stake in shares of IDT by 240.3% during the third 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 during the period. New York State Common Retirement Fund raised its stake in shares of IDT by 26.0% during the fourth 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 during the period. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of IDT during the fourth quarter valued at approximately $286,000. Hedge funds and other institutional investors own 59.34% of the company's stock.

Insiders Place Their Bets

In other IDT news, CTO David Wartell sold 10,735 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were 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 Securities & Exchange Commission, which can be accessed through this link. 25.32% of the stock is owned by company insiders.

IDT Price Performance

IDT stock opened at $57.82 on Tuesday. The company has a market cap of $1.46 billion, a PE ratio of 19.80 and a beta of 0.69. The company has a fifty day moving average price of $50.14 and a two-hundred day moving average price of $49.19. IDT Co. has a 12 month low of $33.84 and a 12 month high of $58.77.

IDT (NYSE:IDT - Get Free Report) last announced its quarterly earnings results 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 during the quarter.

IDT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 17th were issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.24 annualized dividend and a yield of 0.42%. This is an increase from IDT's previous quarterly dividend of $0.05. IDT's dividend payout ratio is presently 7.62%.

Analysts Set New Price Targets

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

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.

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