Trexquant Investment LP Takes $1.08 Million Position 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 bought a new position in IDT Corporation (NYSE:IDT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 21,131 shares of the utilities provider's stock, valued at approximately $1,084,000. Trexquant Investment LP owned about 0.08% of IDT as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of IDT. Park Square Financial Group LLC purchased a new position in IDT in the 4th quarter worth about $44,000. Copeland Capital Management LLC purchased a new position in IDT in the 1st quarter worth about $57,000. AlphaQuest LLC raised its position in IDT by 700.0% in the 1st quarter. AlphaQuest LLC now owns 1,472 shares of the utilities provider's stock worth $76,000 after buying 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 worth about $180,000. Finally, Raymond James Financial Inc. purchased a new position in IDT in the 4th quarter worth about $201,000. Hedge funds and other institutional investors own 59.34% of the company's stock.

Analyst Ratings Changes

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

IDT Stock Performance

Shares of NYSE IDT traded up $0.73 during midday trading on Friday, hitting $66.21. 101,636 shares of the company's stock traded hands, compared to its average volume of 111,463. IDT Corporation has a 1 year low of $36.92 and a 1 year high of $71.12. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 17.47 and a beta of 0.79. The firm has a fifty day moving average of $61.46 and a 200 day moving average of $57.67.

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.