IDT Corporation $IDT is Emmett Investment Management LP's 5th Largest Position

Key Points

• Emmett Investment Management LP has increased its position in IDT Corporation by 10.0%, owning approximately 121,691 shares valued at $6.40 million, which represents about 5.8% of its investment portfolio.
• IDT reported a quarterly revenue of $301.98 million and earnings per share of $0.87, with a return on equity of 26.38% for the period ending June 5th.
• The company issued a quarterly dividend of $0.06 per share, yielding 0.4%, and has a payout ratio of 6.33% as of its latest announcement.

Emmett Investment Management LP lifted its holdings in shares of IDT Corporation (NYSE:IDT - Free Report) by 10.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 121,691 shares of the utilities provider's stock after acquiring an additional 11,074 shares during the period. IDT makes up approximately 5.8% of Emmett Investment Management LP's investment portfolio, making the stock its 5th largest holding. Emmett Investment Management LP owned 0.48% of IDT worth $6,401,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of IDT by 1.8% in the first quarter. Vanguard Group Inc. now owns 1,288,634 shares of the utilities provider's stock valued at $66,120,000 after purchasing an additional 22,819 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in IDT by 0.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 514,043 shares of the utilities provider's stock worth $26,376,000 after buying an additional 2,768 shares during the period. D. E. Shaw & Co. Inc. raised its position in IDT by 6.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 351,588 shares of the utilities provider's stock worth $16,707,000 after buying an additional 22,528 shares during the last quarter. Deutsche Bank AG lifted its stake in IDT by 32.4% during the 4th quarter. Deutsche Bank AG now owns 330,616 shares of the utilities provider's stock valued at $15,711,000 after acquiring an additional 80,817 shares during the period. Finally, Nuveen LLC acquired a new stake in IDT during the 1st quarter valued at approximately $10,409,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

IDT Trading Down 0.1%

NYSE:IDT traded down $0.06 during trading hours on Monday, hitting $63.26. The company had a trading volume of 20,505 shares, compared to its average volume of 144,161. IDT Corporation has a 1 year low of $36.12 and a 1 year high of $71.12. The company has a market cap of $1.60 billion, a P/E ratio of 16.69 and a beta of 0.74. The company has a 50-day moving average of $62.35 and a 200 day moving average of $56.14.

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

IDT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 9th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.4%. IDT's dividend payout ratio (DPR) is currently 6.33%.

Wall Street Analyst Weigh In

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

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.