GAMMA Investing LLC Has $11.53 Million Stock Position in IDT Co. (NYSE:IDT)

GAMMA Investing LLC increased its stake in shares of IDT Co. (NYSE:IDT - Free Report) by 5,925.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,474 shares of the utilities provider's stock after buying an additional 22,101 shares during the quarter. GAMMA Investing LLC owned about 0.09% of IDT worth $11,530,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new stake in shares of IDT during the 4th quarter valued at approximately $44,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in IDT by 35.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider's stock worth $116,000 after acquiring an additional 632 shares during the period. Quantbot Technologies LP purchased a new stake in IDT in the 4th quarter worth approximately $129,000. New Age Alpha Advisors LLC purchased a new stake in IDT in the 4th quarter worth approximately $134,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of IDT during the 4th quarter valued at $180,000. Institutional investors and hedge funds own 59.34% of the company's stock.

Insider Activity at IDT

In other IDT news, CTO David Wartell sold 10,735 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $48.99, for a total value of $525,907.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 25.32% of the company's stock.

IDT Trading Up 1.8%

IDT stock traded up $1.16 during trading on Wednesday, reaching $66.02. The stock had a trading volume of 305,006 shares, compared to its average volume of 104,568. IDT Co. has a 1-year low of $33.84 and a 1-year high of $69.67. The company has a market capitalization of $1.66 billion, a P/E ratio of 22.61 and a beta of 0.72. The firm has a fifty day moving average price of $55.04 and a 200 day moving average price of $51.08.

IDT (NYSE:IDT - Get Free Report) last issued its earnings results on Thursday, June 5th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter. The business had revenue of $301.98 million for the quarter. IDT had a net margin of 6.10% and a return on equity of 22.18%.

IDT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 9th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.36%. IDT's dividend payout ratio is presently 6.33%.

Wall Street Analysts Forecast Growth

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

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.