Mackenzie Financial Corp Buys 6,306 Shares of IDT Corporation (NYSE:IDT)

Key Points

• Mackenzie Financial Corp increased its stake in IDT Corporation by 44.3% in the 1st quarter, owning a total of 20,528 shares valued at approximately $1,053,000.
• IDT's quarterly earnings showed an EPS of $0.87 and revenue of $301.98 million, reflecting a net margin of 7.85% and a return on equity of 26.38%.
• The company recently announced a quarterly dividend of $0.06 per share, which translates to an annualized dividend yield of 0.4% with a payout ratio of 6.33%.

Mackenzie Financial Corp increased its position in shares of IDT Corporation (NYSE:IDT - Free Report) by 44.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,528 shares of the utilities provider's stock after purchasing an additional 6,306 shares during the period. Mackenzie Financial Corp owned 0.08% of IDT worth $1,053,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 during the period. Rhumbline Advisers increased its stake in IDT by 1.2% in the 1st quarter. Rhumbline Advisers now owns 26,240 shares of the utilities provider's stock worth $1,346,000 after purchasing an additional 320 shares in the last quarter. MetLife Investment Management LLC raised its holdings in IDT by 7.4% during the 4th quarter. MetLife Investment Management LLC now owns 9,294 shares of the utilities provider's stock worth $442,000 after buying an additional 643 shares during the period. Aquatic Capital Management LLC lifted its stake in IDT by 12.3% during the fourth quarter. Aquatic Capital Management LLC now owns 6,737 shares of the utilities provider's stock valued at $320,000 after buying an additional 737 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of 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 buying an additional 812 shares during the period. Institutional investors own 59.34% of the company's stock.

IDT Price Performance

IDT traded up $0.33 during trading on Thursday, reaching $60.06. 115,167 shares of the stock traded hands, compared to its average volume of 145,545. IDT Corporation has a fifty-two week low of $34.48 and a fifty-two week high of $71.12. The stock's 50-day simple moving average is $62.63 and its two-hundred day simple moving average is $54.94. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 15.85 and a beta of 0.74.

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

IDT Dividend Announcement

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

Wall Street Analyst Weigh In

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.