Magnetar Financial LLC Increases Stock Position in IDT Corporation $IDT

Key Points

• Magnetar Financial LLC increased its stake in IDT Corporation by 62.4%, acquiring an additional 7,886 shares, bringing its total holdings to 20,528 shares worth approximately $1,053,000.
• IDT Corporation's quarterly earnings reported an EPS of $0.87 with a revenue of $301.98 million, while the company's dividend yield stands at 0.4%.
• IDT's stock recently experienced a 1.1% decrease in value, with current trading at $64.03, despite institutional investors holding 59.34% of the stock.

Magnetar Financial LLC raised its stake in shares of IDT Corporation (NYSE:IDT - Free Report) by 62.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,528 shares of the utilities provider's stock after purchasing an additional 7,886 shares during the period. Magnetar Financial LLC owned 0.08% of IDT worth $1,053,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Park Square Financial Group LLC purchased a new stake in IDT during the 4th quarter worth approximately $44,000. Copeland Capital Management LLC purchased a new stake in shares of IDT during the first quarter worth approximately $57,000. AlphaQuest LLC raised its stake in IDT by 700.0% in the 1st quarter. AlphaQuest LLC now owns 1,472 shares of the utilities provider's stock valued at $76,000 after purchasing an additional 1,288 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in IDT in the 4th quarter valued at $180,000. Finally, Raymond James Financial Inc. purchased a new position in IDT in the 4th quarter valued at $201,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

IDT Price Performance

Shares of IDT traded down $0.31 during mid-day trading on Thursday, reaching $64.64. The stock had a trading volume of 74,863 shares, compared to its average volume of 143,323. The business's fifty day moving average is $61.97 and its 200 day moving average is $56.90. IDT Corporation has a 52-week low of $36.12 and a 52-week high of $71.12. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 17.03 and a beta of 0.79.

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

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.