Russell Investments Group Ltd. Raises Stake in IDT Co. (NYSE:IDT)

Russell Investments Group Ltd. increased its holdings in IDT Co. (NYSE:IDT - Free Report) by 163.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 94,905 shares of the utilities provider's stock after buying an additional 58,859 shares during the quarter. Russell Investments Group Ltd. owned about 0.38% of IDT worth $3,235,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Foundry Partners LLC raised its holdings in shares of IDT by 5.8% during the fourth quarter. Foundry Partners LLC now owns 145,305 shares of the utilities provider's stock worth $4,953,000 after purchasing an additional 8,010 shares during the last quarter. Mraz Amerine & Associates Inc. acquired a new position in shares of IDT in the 4th quarter valued at about $236,000. Allspring Global Investments Holdings LLC boosted its stake in shares of IDT by 146.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 22,973 shares of the utilities provider's stock worth $783,000 after buying an additional 13,659 shares during the last quarter. Denali Advisors LLC grew its holdings in IDT by 20.0% during the fourth quarter. Denali Advisors LLC now owns 15,000 shares of the utilities provider's stock worth $511,000 after acquiring an additional 2,500 shares during the period. Finally, SG Americas Securities LLC purchased a new position in IDT during the fourth quarter valued at approximately $115,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

IDT Price Performance

IDT stock traded down $0.31 during midday trading on Monday, hitting $38.61. 60,110 shares of the stock traded hands, compared to its average volume of 72,917. The stock's fifty day simple moving average is $37.34 and its 200-day simple moving average is $34.19. The firm has a market cap of $980.23 million, a P/E ratio of 26.63 and a beta of 0.99. IDT Co. has a 1-year low of $21.64 and a 1-year high of $39.28.

IDT (NYSE:IDT - Get Free Report) last announced its quarterly earnings results on Wednesday, March 6th. The utilities provider reported $0.59 earnings per share for the quarter. The firm had revenue of $296.10 million during the quarter. IDT had a return on equity of 20.18% and a net margin of 3.08%.

IDT Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were given a dividend of $0.05 per share. The ex-dividend date was Monday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. IDT's dividend payout ratio (DPR) is 13.79%.

Insider Activity at IDT

In related news, CAO Mitch Silberman sold 2,115 shares of the firm's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $38.01, for a total value of $80,391.15. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, COO Bill Pereira sold 15,647 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $37.95, for a total value of $593,803.65. Following the completion of the sale, the chief operating officer now directly owns 49,999 shares in the company, valued at $1,897,462.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mitch Silberman sold 2,115 shares of the business's stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $38.01, for a total transaction of $80,391.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,192 shares of company stock valued at $690,075. 15.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of IDT from a "hold" rating to a "buy" rating in a research note on Thursday, March 7th.

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.