Victory Capital Management Inc. Sells 18,628 Shares of IDT Corporation (NYSE:IDT)

Key Points

• Victory Capital Management Inc. reduced its stake in IDT Corporation by 50.9%, holding 17,936 shares valued at approximately $920,000.
• Institutional investors and hedge funds collectively own 59.34% of IDT stock, reflecting significant interest in the company.
• IDT recently declared a quarterly dividend of $0.06 per share, representing an annualized yield of 0.4%.

Victory Capital Management Inc. lowered its position in shares of IDT Corporation (NYSE:IDT - Free Report) by 50.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,936 shares of the utilities provider's stock after selling 18,628 shares during the quarter. Victory Capital Management Inc. owned 0.07% of IDT worth $920,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in IDT in the fourth quarter worth approximately $201,000. American Century Companies Inc. grew its position in IDT by 1.8% in the fourth quarter. American Century Companies Inc. now owns 46,594 shares of the utilities provider's stock worth $2,214,000 after acquiring an additional 812 shares in the last quarter. Sei Investments Co. bought a new stake in shares of IDT during the 4th quarter worth $294,000. KLP Kapitalforvaltning AS bought a new stake in shares of IDT during the 4th quarter worth $475,000. Finally, Vanguard Group Inc. boosted its holdings in shares of IDT by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 1,265,815 shares of the utilities provider's stock worth $60,152,000 after buying an additional 4,426 shares during the period. Institutional investors and hedge funds own 59.34% of the company's stock.

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 note on Saturday, June 14th.

IDT Stock Performance

Shares of IDT stock traded up $0.34 during mid-day trading on Monday, reaching $58.42. The company's stock had a trading volume of 28,892 shares, compared to its average volume of 144,875. IDT Corporation has a 1-year low of $33.84 and a 1-year high of $71.12. The company has a market cap of $1.47 billion, a P/E ratio of 15.41 and a beta of 0.74. The firm's 50-day moving average is $62.81 and its two-hundred day moving average is $54.71.

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

IDT Announces Dividend

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

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.