Algert Global LLC Sells 5,720 Shares of IDT Corporation $IDT

Key Points

• Algert Global LLC reduced its stake in IDT Corporation by 8.0%, owning approximately $3.36 million worth of the stock after selling 5,720 shares in the first quarter.
• IDT Corporation reported $301.98 million in revenue for the last quarter, with earnings per share of $0.87 and a net margin of 7.85%.
• The company recently announced a quarterly dividend of $0.06 per share, representing an annualized yield of 0.4%.

Algert Global LLC reduced its position in IDT Corporation (NYSE:IDT - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,568 shares of the utilities provider's stock after selling 5,720 shares during the period. Algert Global LLC owned about 0.26% of IDT worth $3,364,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. American Century Companies Inc. increased its position in shares of IDT by 20.5% in the first quarter. American Century Companies Inc. now owns 56,127 shares of the utilities provider's stock worth $2,880,000 after acquiring an additional 9,533 shares in the last quarter. Russell Investments Group Ltd. grew its position in IDT by 6.7% during the first quarter. Russell Investments Group Ltd. now owns 160,674 shares of the utilities provider's stock valued at $8,245,000 after purchasing an additional 10,135 shares in the last quarter. Nuveen LLC purchased a new position in IDT during the first quarter valued at approximately $10,409,000. Virtu Financial LLC purchased a new position in IDT during the first quarter valued at approximately $252,000. Finally, Entropy Technologies LP purchased a new position in IDT during the first quarter valued at approximately $212,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

IDT Stock Down 0.5%

IDT stock traded down $0.29 during trading hours on Monday, hitting $63.03. The company's stock had a trading volume of 114,324 shares, compared to its average volume of 136,073. The company has a market capitalization of $1.59 billion, a PE ratio of 16.63 and a beta of 0.74. IDT Corporation has a 12 month low of $36.12 and a 12 month high of $71.12. The stock has a 50 day moving average price of $62.27 and a two-hundred day moving average price of $56.25.

IDT (NYSE:IDT - Get Free Report) last posted its earnings results on Thursday, June 5th. The utilities provider reported $0.87 EPS for the quarter. The company had revenue of $301.98 million during the quarter. IDT had a net margin of 7.85% and a return on equity of 26.38%.

IDT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 9th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.4%. IDT's dividend payout ratio is 6.33%.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of IDT from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 14th.

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.