IDT Corporation $IDT Shares Purchased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its ownership of IDT Corporation by 6.7%, holding a total of 160,674 shares worth approximately $8.25 million.
• A majority of IDT's stock, approximately 59.34%, is now owned by institutional investors and hedge funds, with notable increases from several firms.
• IDT recently reported earnings of $0.87 EPS and declared a quarterly dividend of $0.06 per share, which translates to an annual yield of 0.4%.

Russell Investments Group Ltd. boosted its stake in shares of IDT Corporation (NYSE:IDT - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,674 shares of the utilities provider's stock after buying an additional 10,135 shares during the quarter. Russell Investments Group Ltd. owned 0.64% of IDT worth $8,245,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in shares of IDT by 209.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 86,741 shares of the utilities provider's stock worth $4,451,000 after purchasing an additional 58,727 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of IDT by 0.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 514,043 shares of the utilities provider's stock worth $26,376,000 after purchasing an additional 2,768 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of IDT during the fourth quarter worth about $206,000. Assenagon Asset Management S.A. acquired a new stake in shares of IDT during the first quarter worth about $1,063,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 worth $417,000 after purchasing an additional 303 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

IDT Stock Up 0.3%

IDT stock traded up $0.21 during mid-day trading on Monday, hitting $63.53. The company had a trading volume of 8,093 shares, compared to its average volume of 144,077. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 16.76 and a beta of 0.74. IDT Corporation has a 1 year low of $36.12 and a 1 year high of $71.12. The business has a fifty day moving average of $62.35 and a 200 day moving average of $56.14.

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

IDT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 9th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. IDT's dividend payout ratio (DPR) is presently 6.33%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of IDT from a "strong-buy" rating to a "buy" rating in a research report 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.