Point72 Asset Management L.P. Decreases Stock Holdings in IDT Co. (NYSE:IDT)

Point72 Asset Management L.P. lessened its stake in shares of IDT Co. (NYSE:IDT - Free Report) by 49.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,726 shares of the utilities provider's stock after selling 6,670 shares during the quarter. Point72 Asset Management L.P.'s holdings in IDT were worth $320,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. ProShare Advisors LLC purchased a new position in shares of IDT during the fourth quarter worth about $206,000. Nuveen Asset Management LLC boosted its stake in shares of IDT by 18.7% during the fourth quarter. Nuveen Asset Management LLC now owns 107,926 shares of the utilities provider's stock valued at $5,129,000 after purchasing an additional 17,035 shares during the period. Occudo Quantitative Strategies LP boosted its stake in shares of IDT by 25.0% during the fourth quarter. Occudo Quantitative Strategies LP now owns 9,398 shares of the utilities provider's stock valued at $447,000 after purchasing an additional 1,880 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of IDT by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,775 shares of the utilities provider's stock valued at $417,000 after acquiring an additional 303 shares in the last quarter. Finally, Emmett Investment Management LP bought a new position in shares of IDT during the fourth quarter valued at approximately $5,257,000. Hedge funds and other institutional investors own 59.34% of the company's stock.

Insider Buying and Selling

In other news, CTO David Wartell sold 10,735 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total transaction of $525,907.65. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 25.32% of the stock is owned by insiders.

IDT Stock Up 1.7%

Shares of NYSE:IDT traded up $1.01 on Tuesday, hitting $61.97. 196,172 shares of the company traded hands, compared to its average volume of 100,357. IDT Co. has a 52 week low of $33.84 and a 52 week high of $62.53. The stock has a 50 day simple moving average of $52.41 and a 200-day simple moving average of $50.06. The company has a market cap of $1.56 billion, a PE ratio of 21.22 and a beta of 0.69.

IDT (NYSE:IDT - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The utilities provider reported $0.81 EPS for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%. The company had revenue of $303.35 million during the quarter.

IDT Increases Dividend

The firm also recently declared 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 was Monday, March 17th. This is a boost from IDT's previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.39%. IDT's payout ratio is currently 7.62%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded IDT from a "buy" rating to a "strong-buy" rating in a report on Tuesday, March 18th.

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.