Ritholtz Wealth Management Buys 2,921 Shares of IDT Co. (NYSE:IDT)

Ritholtz Wealth Management increased its stake in shares of IDT Co. (NYSE:IDT) by 23.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,392 shares of the utilities provider’s stock after acquiring an additional 2,921 shares during the quarter. Ritholtz Wealth Management owned about 0.06% of IDT worth $731,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New York State Teachers Retirement System bought a new position in shares of IDT during the third quarter worth $54,000. Point72 Asset Management L.P. raised its stake in IDT by 176.9% during the second quarter. Point72 Asset Management L.P. now owns 3,600 shares of the utilities provider’s stock valued at $129,000 after purchasing an additional 2,300 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in IDT during the fourth quarter valued at $200,000. XTX Topco Ltd purchased a new stake in IDT during the second quarter valued at $203,000. Finally, Versor Investments LP purchased a new stake in IDT during the third quarter valued at $213,000. Institutional investors own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of IDT from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 1st.

Insider Activity

In other news, EVP Nadine Shea sold 1,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $53.74, for a total value of $53,740.00. Following the sale, the executive vice president now owns 4,775 shares of the company’s stock, valued at approximately $256,608.50. This represents a 17.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO David Wartell sold 17,116 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $47.11, for a total transaction of $806,334.76. The disclosure for this sale can be found here. Insiders own 25.32% of the company’s stock.

IDT Stock Up 1.0 %

IDT stock opened at $48.00 on Tuesday. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 16.44 and a beta of 0.81. The firm’s fifty day moving average is $49.25 and its 200 day moving average is $43.12. IDT Co. has a 52-week low of $32.77 and a 52-week high of $58.77.

IDT Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 24th were paid a $0.05 dividend. This represents a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 23rd. IDT’s dividend payout ratio is currently 6.85%.

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.