Trexquant Investment LP Makes New Investment in IDT Corporation $IDT

Key Points

• Trexquant Investment LP has acquired a new position in IDT Corporation, purchasing 21,131 shares valued at approximately $1,084,000 during the first quarter.
• Institutional investors currently hold 59.34% of IDT's stock, with several other firms, including Martingale and Invesco, increasing their stakes in the company recently.
• IDT Corporation reported an EPS of $0.87 and revenue of $301.98 million for the most recent quarter, but saw its rating downgraded from "strong-buy" to "buy" by Wall Street Zen.

Trexquant Investment LP purchased a new position in shares of IDT Corporation (NYSE:IDT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 21,131 shares of the utilities provider's stock, valued at approximately $1,084,000. Trexquant Investment LP owned 0.08% of IDT as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in IDT. Martingale Asset Management L P increased its holdings in shares of IDT by 1.0% in the first 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of IDT by 3.6% in the fourth 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 period. Rhumbline Advisers increased its holdings in shares of IDT by 1.2% in the first 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 period. Park Square Financial Group LLC acquired a new position in shares of IDT in the fourth quarter valued at approximately $44,000. Finally, Invesco Ltd. increased its holdings in shares of IDT by 3.5% in the first 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 period. Institutional investors and hedge funds own 59.34% of the company's stock.

IDT Price Performance

IDT stock opened at $64.78 on Friday. The stock's 50 day moving average price is $61.87 and its 200 day moving average price is $57.17. The company has a market cap of $1.63 billion, a PE ratio of 17.09 and a beta of 0.79. IDT Corporation has a 1-year low of $36.12 and a 1-year high of $71.12.

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. The company had revenue of $301.98 million for the quarter. IDT had a return on equity of 26.38% and a net margin of 7.85%.

Analyst Ratings Changes

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

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.

Want to see what other hedge funds are holding IDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDT Corporation (NYSE:IDT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.