Panagora Asset Management Inc. Purchases 19,638 Shares of IDT Corporation $IDT

Key Points

• Panagora Asset Management Inc. has increased its stake in IDT Corporation by 111.0%, owning 37,337 shares worth approximately $1.9 million.
• IDT Corporation's stock has seen a slight decline of 0.1% and is currently trading at $63.97, with a market capitalization of $1.61 billion.
• The company recently announced a quarterly dividend of $0.06 per share, representing a 0.4% dividend yield and a payout ratio of 6.33%.

Panagora Asset Management Inc. raised its stake in IDT Corporation (NYSE:IDT - Free Report) by 111.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,337 shares of the utilities provider's stock after buying an additional 19,638 shares during the quarter. Panagora Asset Management Inc. owned 0.15% of IDT worth $1,916,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Martingale Asset Management L P increased its holdings in shares of IDT by 1.0% in the first quarter. Martingale Asset Management L P now owns 20,610 shares of the utilities provider's stock worth $1,058,000 after acquiring an additional 210 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of IDT by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,775 shares of the utilities provider's stock worth $417,000 after acquiring an additional 303 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of IDT by 1.2% in the first quarter. Rhumbline Advisers now owns 26,240 shares of the utilities provider's stock worth $1,346,000 after acquiring an additional 320 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of IDT by 7.4% in the fourth quarter. MetLife Investment Management LLC now owns 9,294 shares of the utilities provider's stock worth $442,000 after acquiring an additional 643 shares in the last quarter. Finally, Park Square Financial Group LLC bought a new stake in shares of IDT in the fourth quarter worth about $44,000. 59.34% of the stock is currently owned by institutional investors.

IDT Price Performance

IDT stock traded down $0.23 during mid-day trading on Friday, reaching $64.78. The company had a trading volume of 149,549 shares, compared to its average volume of 122,421. The stock has a 50 day simple moving average of $61.87 and a two-hundred day simple moving average of $57.17. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 17.09 and a beta of 0.79. IDT Corporation has a 52 week low of $36.12 and a 52 week high of $71.12.

IDT (NYSE:IDT - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The utilities provider reported $0.87 earnings per share 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%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded IDT from a "strong-buy" rating to a "buy" rating in a 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.