Strs Ohio Takes Position in IDT Corporation $IDT

Key Points

• Strs Ohio purchased a new stake in IDT Corporation in the first quarter, acquiring 8,600 shares valued at approximately $441,000.
• Wall Street analysts have downgraded IDT from a "strong-buy" to a "buy" rating, indicating a potential change in investor sentiment.
• IDT's stock is currently trading at $68.56, having increased by 2.4%, with a market capitalization of $1.73 billion and a 12-month high of $71.12.

Strs Ohio bought a new stake in IDT Corporation (NYSE:IDT - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 8,600 shares of the utilities provider's stock, valued at approximately $441,000.

Several other hedge funds have also bought and sold shares of the company. Martingale Asset Management L P lifted its stake in IDT by 1.0% in the 1st quarter. Martingale Asset Management L P now owns 20,610 shares of the utilities provider's stock valued at $1,058,000 after purchasing an additional 210 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in IDT by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,775 shares of the utilities provider's stock valued at $417,000 after purchasing an additional 303 shares during the last quarter. Rhumbline Advisers lifted its stake in IDT by 1.2% in the 1st quarter. Rhumbline Advisers now owns 26,240 shares of the utilities provider's stock valued at $1,346,000 after purchasing an additional 320 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in IDT in the 4th quarter valued at about $44,000. Finally, Invesco Ltd. lifted its stake in IDT by 3.5% in the 1st quarter. Invesco Ltd. now owns 29,615 shares of the utilities provider's stock valued at $1,520,000 after purchasing an additional 988 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

IDT Stock Up 2.4%

Shares of IDT stock opened at $68.56 on Tuesday. The firm has a 50 day moving average price of $61.90 and a two-hundred day moving average price of $58.60. The company has a market capitalization of $1.73 billion, a PE ratio of 18.09 and a beta of 0.79. IDT Corporation has a 12-month low of $37.45 and a 12-month high of $71.12.

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.

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