Emmett Investment Management LP Raises Stock Holdings in IDT Corporation $IDT

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Park Square Financial Group LLC acquired a new stake in shares of IDT in the fourth quarter valued at $44,000. Copeland Capital Management LLC acquired a new stake in shares of IDT in the first quarter valued at $57,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of IDT in the fourth quarter valued at $180,000. Raymond James Financial Inc. acquired a new stake in shares of IDT in the fourth quarter valued at $201,000. Finally, ProShare Advisors LLC acquired a new stake in shares of IDT in the fourth quarter valued at $206,000. 59.34% of the stock is owned by institutional investors.

IDT Stock Up 1.6%

IDT stock traded up $0.9910 during midday trading on Friday, reaching $63.2710. The stock had a trading volume of 165,299 shares, compared to its average volume of 132,391. The business has a fifty day simple moving average of $62.35 and a two-hundred day simple moving average of $56.03. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 16.69 and a beta of 0.74. IDT Corporation has a twelve month low of $36.12 and a twelve month high of $71.12.

IDT (NYSE:IDT - Get Free Report) last announced its quarterly earnings data 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 return on equity of 26.38% and a net margin of 7.85%.

IDT Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.