Proficio Capital Partners LLC Makes New Investment in IDT Co. (NYSE:IDT)

Proficio Capital Partners LLC bought a new stake in IDT Co. (NYSE:IDT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 21,432 shares of the utilities provider’s stock, valued at approximately $1,018,000. Proficio Capital Partners LLC owned approximately 0.08% of IDT as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IDT. New York State Teachers Retirement System purchased a new stake in shares of IDT in the third quarter valued at about $54,000. Harbor Capital Advisors Inc. boosted its holdings in shares of IDT by 50.1% in the third quarter. Harbor Capital Advisors Inc. now owns 11,476 shares of the utilities provider’s stock valued at $438,000 after acquiring an additional 3,828 shares in the last quarter. Summit Global Investments purchased a new stake in shares of IDT in the third quarter valued at about $637,000. Versor Investments LP acquired a new stake in shares of IDT in the third quarter valued at about $213,000. Finally, Victory Capital Management Inc. lifted its stake in shares of IDT by 7.3% in the third quarter. Victory Capital Management Inc. now owns 34,313 shares of the utilities provider’s stock valued at $1,310,000 after purchasing an additional 2,320 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

IDT Trading Up 10.3 %

Shares of IDT opened at $50.96 on Friday. The stock has a market cap of $1.29 billion, a P/E ratio of 17.45 and a beta of 0.84. The company has a 50-day moving average of $47.78 and a two-hundred day moving average of $45.86. IDT Co. has a 12-month low of $33.84 and a 12-month high of $58.77.

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

IDT Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 24th were given 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 presently 6.35%.

Insider Activity

In related news, CTO David Wartell sold 17,116 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $47.11, for a total value of $806,334.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nadine Shea sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $53.74, for a total transaction 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 disclosure for this sale can be found here. Company insiders own 25.32% of the company’s stock.

Analyst Ratings Changes

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

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.