Virtu Financial LLC Buys New Stake in 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 stake in shares of IDT Corporation (NYSE:IDT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,914 shares of the utilities provider's stock, valued at approximately $252,000.

Several other hedge funds and other institutional investors have also bought and sold shares of IDT. JPMorgan Chase & Co. lifted its stake in shares of IDT by 101.5% in the 4th quarter. JPMorgan Chase & Co. now owns 112,614 shares of the utilities provider's stock worth $5,351,000 after purchasing an additional 56,738 shares during the period. Geode Capital Management LLC lifted its stake in shares of IDT by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 426,442 shares of the utilities provider's stock worth $20,269,000 after purchasing an additional 5,346 shares during the period. Wells Fargo & Company MN lifted its stake in shares of IDT by 66.8% in the 4th quarter. Wells Fargo & Company MN now owns 13,271 shares of the utilities provider's stock worth $631,000 after purchasing an additional 5,313 shares during the period. Invesco Ltd. lifted its stake in shares of IDT by 5.9% in the 4th quarter. Invesco Ltd. now owns 28,627 shares of the utilities provider's stock worth $1,360,000 after purchasing an additional 1,594 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of IDT in the 4th quarter worth approximately $201,000. Institutional investors own 59.34% of the company's stock.

IDT Trading Down 0.3%

IDT stock traded down $0.2050 during midday trading on Wednesday, hitting $62.3950. The stock had a trading volume of 31,017 shares, compared to its average volume of 144,804. The firm's fifty day moving average is $62.52 and its two-hundred day moving average is $55.78. The company has a market capitalization of $1.57 billion, a PE ratio of 16.46 and a beta of 0.74. IDT Corporation has a 52-week low of $35.83 and a 52-week high of $71.12.

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

IDT Dividend Announcement

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

Wall Street Analysts Forecast Growth

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