Alta Fox Capital Management LLC Purchases 37,125 Shares of IDT Corporation $IDT

Key Points

• Alta Fox Capital Management LLC increased its stake in IDT Corporation by 37.5%, bringing its holdings to 136,060 shares valued at approximately $6.98 million.
• Several institutional investors have also recently adjusted their positions in IDT, with Vanguard Group Inc. growing its stake to over $66 million.
• IDT Corporation announced a quarterly dividend of $0.06, translating to an annualized basis of $0.24 and a dividend yield of 0.4%.

Alta Fox Capital Management LLC boosted its holdings in shares of IDT Corporation (NYSE:IDT - Free Report) by 37.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 136,060 shares of the utilities provider's stock after purchasing an additional 37,125 shares during the period. IDT comprises 2.8% of Alta Fox Capital Management LLC's portfolio, making the stock its 9th biggest holding. Alta Fox Capital Management LLC owned about 0.54% of IDT worth $6,981,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new position in IDT during the fourth quarter worth about $44,000. Copeland Capital Management LLC bought a new position in shares of IDT in the first quarter valued at approximately $57,000. AlphaQuest LLC raised its stake in shares of IDT by 700.0% in the first quarter. AlphaQuest LLC now owns 1,472 shares of the utilities provider's stock valued at $76,000 after acquiring an additional 1,288 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of IDT in the fourth quarter valued at approximately $180,000. Finally, Entropy Technologies LP bought a new position in shares of IDT in the first quarter valued at approximately $212,000. Institutional investors own 59.34% of the company's stock.

Analyst Ratings Changes

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

IDT Trading Down 0.3%

Shares of IDT stock traded down $0.23 during midday trading on Friday, reaching $64.78. The company had a trading volume of 149,549 shares, compared to its average volume of 122,421. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 17.09 and a beta of 0.79. The stock has a fifty day simple moving average of $61.87 and a 200 day simple moving average of $57.17. IDT Corporation has a 1-year low of $36.12 and a 1-year high of $71.12.

IDT (NYSE:IDT - Get Free Report) last released its earnings results on Thursday, June 5th. The utilities provider reported $0.87 EPS for the quarter. The firm 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%.

About IDT

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.