PDT Partners LLC Invests $578,000 in IDT Corporation $IDT

Key Points

• PDT Partners LLC has acquired a new position in IDT Corporation, purchasing 11,271 shares valued at approximately $578,000.
• Other institutional investors have also increased their stakes in IDT, with Nuveen LLC investing $10.4 million and Deutsche Bank AG boosting its holdings by 32.4%.
• Recent analyst ratings for IDT have shifted, with Wall Street Zen downgrading its rating from "strong-buy" to "buy".

PDT Partners LLC bought a new stake in shares of IDT Corporation (NYSE:IDT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 11,271 shares of the utilities provider's stock, valued at approximately $578,000.

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

IDT Trading Down 2.5%

Shares of NYSE IDT traded down $1.63 during trading hours on Wednesday, reaching $63.78. The stock had a trading volume of 15,433 shares, compared to its average volume of 142,611. The firm has a 50-day moving average of $61.73 and a 200-day moving average of $57.40. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 16.90 and a beta of 0.79. IDT Corporation has a fifty-two week low of $36.12 and a fifty-two week high of $71.12.

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.

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.