Assenagon Asset Management S.A. Decreases Stock Holdings in IDT Co. (NYSE:IDT)

Assenagon Asset Management S.A. decreased its position in IDT Co. (NYSE:IDT - Free Report) by 46.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,092 shares of the utilities provider's stock after selling 34,205 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.15% of IDT worth $1,478,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Deutsche Bank AG increased its position in shares of IDT by 11.0% in the third quarter. Deutsche Bank AG now owns 160,460 shares of the utilities provider's stock valued at $3,538,000 after acquiring an additional 15,903 shares during the period. Campbell & CO Investment Adviser LLC boosted its stake in shares of IDT by 397.1% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 41,492 shares of the utilities provider's stock valued at $915,000 after purchasing an additional 33,146 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of IDT by 121.3% during the 3rd quarter. Hsbc Holdings PLC now owns 19,012 shares of the utilities provider's stock valued at $421,000 after purchasing an additional 10,422 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of IDT by 163.3% during the 4th quarter. Russell Investments Group Ltd. now owns 94,905 shares of the utilities provider's stock valued at $3,235,000 after purchasing an additional 58,859 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of IDT by 13.6% during the 3rd quarter. Barclays PLC now owns 7,437 shares of the utilities provider's stock valued at $164,000 after purchasing an additional 889 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company's stock.

IDT Stock Up 1.5 %

Shares of IDT traded up $0.61 during trading hours on Monday, reaching $40.30. 79,513 shares of the company traded hands, compared to its average volume of 72,701. IDT Co. has a 12 month low of $21.64 and a 12 month high of $41.01. The company's fifty day moving average price is $37.64 and its two-hundred day moving average price is $34.68. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 27.79 and a beta of 0.99.

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

IDT Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.20 annualized dividend and a yield of 0.50%. IDT's dividend payout ratio (DPR) is presently 13.79%.

Insiders Place Their Bets

In other news, COO Bill Pereira sold 15,647 shares of the business's stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $37.95, for a total transaction of $593,803.65. Following the completion of the transaction, the chief operating officer now directly owns 49,999 shares of the company's stock, valued at $1,897,462.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other IDT news, COO Bill Pereira sold 15,647 shares of the company's stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $37.95, for a total transaction of $593,803.65. Following the completion of the sale, the chief operating officer now directly owns 49,999 shares of the company's stock, valued at $1,897,462.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Mitch Silberman sold 2,115 shares of the company's stock in a transaction that occurred on Wednesday, March 27th. The shares were 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. Over the last ninety days, insiders sold 18,192 shares of company stock valued at $690,075. Insiders own 15.00% of the company's stock.

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.

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.

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