Royce & Associates LP Sells 70,121 Shares of IDT Corporation (NYSE:IDT)

Royce & Associates LP cut its stake in shares of IDT Corporation (NYSE:IDT - Free Report) by 11.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 521,728 shares of the utilities provider's stock after selling 70,121 shares during the quarter. Royce & Associates LP owned 2.07% of IDT worth $26,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of IDT. Emmett Investment Management LP purchased a new stake in IDT during the 4th quarter valued at about $5,257,000. Deutsche Bank AG boosted its holdings in IDT by 32.4% during the 4th quarter. Deutsche Bank AG now owns 330,616 shares of the utilities provider's stock valued at $15,711,000 after acquiring an additional 80,817 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in IDT by 209.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 86,741 shares of the utilities provider's stock valued at $4,451,000 after acquiring an additional 58,727 shares during the period. JPMorgan Chase & Co. boosted its holdings in IDT by 101.5% during the 4th quarter. JPMorgan Chase & Co. now owns 112,614 shares of the utilities provider's stock valued at $5,351,000 after acquiring an additional 56,738 shares during the period. Finally, Cerity Partners LLC boosted its holdings in IDT by 55.3% during the 1st quarter. Cerity Partners LLC now owns 146,876 shares of the utilities provider's stock valued at $7,536,000 after acquiring an additional 52,281 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut IDT from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 14th.

IDT Price Performance

IDT traded up $0.21 during midday trading on Monday, reaching $57.34. 121,844 shares of the company's stock traded hands, compared to its average volume of 146,044. The firm has a fifty day moving average of $63.13 and a two-hundred day moving average of $54.32. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 15.13 and a beta of 0.73. IDT Corporation has a 52 week low of $33.84 and a 52 week high of $71.12.

IDT (NYSE:IDT - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The utilities provider reported $0.87 EPS for the quarter. The business 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%.

IDT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders 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 yield of 0.42%. IDT's payout ratio is 6.33%.

IDT 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.