Kahn Brothers Group Inc. Sells 91,347 Shares of IDT Co. (NYSE:IDT)

Kahn Brothers Group Inc. trimmed its holdings in IDT Co. (NYSE:IDT - Free Report) by 27.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,881 shares of the utilities provider's stock after selling 91,347 shares during the quarter. IDT comprises about 2.4% of Kahn Brothers Group Inc.'s investment portfolio, making the stock its 14th biggest holding. Kahn Brothers Group Inc. owned about 0.95% of IDT worth $11,351,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of IDT by 35.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider's stock worth $116,000 after purchasing an additional 632 shares in the last quarter. Quantbot Technologies LP bought a new stake in IDT in the 4th quarter worth about $129,000. New Age Alpha Advisors LLC purchased a new position in IDT in the 4th quarter worth about $134,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in IDT during the 4th quarter valued at about $180,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in shares of IDT during the 4th quarter valued at about $200,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of IDT from a "buy" rating to a "strong-buy" rating in a report on Tuesday, March 18th.

Insiders Place Their Bets

In other IDT news, CTO David Wartell sold 10,735 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $48.99, for a total transaction of $525,907.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 25.32% of the stock is currently owned by company insiders.

IDT Price Performance

Shares of IDT stock opened at $55.31 on Friday. IDT Co. has a 1 year low of $33.84 and a 1 year high of $58.77. The firm has a fifty day moving average price of $49.91 and a 200-day moving average price of $49.09. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 18.94 and a beta of 0.69.

IDT (NYSE:IDT - Get Free Report) last released its earnings results on Thursday, March 6th. The utilities provider reported $0.81 EPS for the quarter. The company had revenue of $303.35 million for the quarter. IDT had a net margin of 6.10% and a return on equity of 22.18%.

IDT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 17th were issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.24 annualized dividend and a yield of 0.43%. This is an increase from IDT's previous quarterly dividend of $0.05. IDT's dividend payout ratio is currently 7.62%.

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.

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