Virtu Financial LLC Buys Shares of 4,914 IDT Corporation $IDT

Key Points

• Virtu Financial LLC has invested approximately $252,000 in IDT Corporation by acquiring 4,914 shares during the first quarter.
• Hedge funds and institutional investors hold 59.34% of IDT's stock, with notable increases in positions by firms like JPMorgan Chase and Wells Fargo.
• IDT reported a $0.87 EPS in its latest quarterly earnings, alongside a recent dividend payment of $0.06 per share, yielding 0.4% annually.

Virtu Financial LLC bought a new position in IDT Corporation (NYSE:IDT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,914 shares of the utilities provider's stock, valued at approximately $252,000.

Several other institutional investors have also made changes to their positions in the company. Entropy Technologies LP purchased a new position in shares of IDT in the first quarter worth approximately $212,000. Invesco Ltd. increased its position in shares of IDT by 3.5% in the first quarter. Invesco Ltd. now owns 29,615 shares of the utilities provider's stock worth $1,520,000 after acquiring an additional 988 shares in the last quarter. Swiss National Bank increased its position in shares of IDT by 26.7% in the first quarter. Swiss National Bank now owns 41,300 shares of the utilities provider's stock worth $2,119,000 after acquiring an additional 8,700 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of IDT by 9.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 178,265 shares of the utilities provider's stock worth $9,147,000 after acquiring an additional 15,600 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of IDT by 1.8% in the first quarter. Vanguard Group Inc. now owns 1,288,634 shares of the utilities provider's stock worth $66,120,000 after acquiring an additional 22,819 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

IDT Stock Performance

Shares of IDT stock traded up $0.24 during trading on Thursday, hitting $62.26. 91,346 shares of the company were exchanged, compared to its average volume of 136,604. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 16.43 and a beta of 0.74. The business's 50-day simple moving average is $62.41 and its 200 day simple moving average is $55.92. IDT Corporation has a twelve month low of $36.12 and a twelve month high of $71.12.

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

IDT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 9th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. IDT's dividend payout ratio is currently 6.33%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of IDT from a "strong-buy" rating to a "buy" rating in a research 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.