Denali Advisors LLC Sells 3,900 Shares of IDT Co. (NYSE:IDT)

Denali Advisors LLC lessened its stake in shares of IDT Co. (NYSE:IDT) by 26.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,100 shares of the utilities provider’s stock after selling 3,900 shares during the quarter. Denali Advisors LLC’s holdings in IDT were worth $420,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new stake in IDT during the 1st quarter valued at $23,276,000. Campbell & CO Investment Adviser LLC boosted its position in IDT by 28.6% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 53,367 shares of the utilities provider’s stock valued at $1,819,000 after acquiring an additional 11,875 shares in the last quarter. Russell Investments Group Ltd. boosted its position in 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 acquiring an additional 58,859 shares in the last quarter. Hsbc Holdings PLC boosted its position in 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 acquiring an additional 10,422 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in IDT by 22.6% during the 4th quarter. Victory Capital Management Inc. now owns 40,070 shares of the utilities provider’s stock valued at $1,366,000 after acquiring an additional 7,380 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

IDT Stock Performance

Shares of IDT stock opened at $35.75 on Thursday. IDT Co. has a fifty-two week low of $21.64 and a fifty-two week high of $41.58. The firm has a market capitalization of $905.91 million, a price-to-earnings ratio of 25.54 and a beta of 0.82. The stock’s 50-day simple moving average is $37.82 and its 200-day simple moving average is $36.45.

IDT (NYSE:IDT) last released its earnings results on Wednesday, June 5th. The utilities provider reported $0.33 earnings per share for the quarter. IDT had a net margin of 2.97% and a return on equity of 18.56%. The company had revenue of $299.64 million for the quarter.

IDT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Monday, June 10th. IDT’s payout ratio is 14.29%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised IDT from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 6th.

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.