IDT Co. (NYSE:IDT) Shares Sold by Summit Global Investments

Summit Global Investments cut its position in IDT Co. (NYSE:IDT) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,695 shares of the utilities provider’s stock after selling 983 shares during the period. Summit Global Investments owned 0.06% of IDT worth $746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in IDT. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of IDT in the fourth quarter worth approximately $200,000. Raymond James Financial Inc. acquired a new stake in shares of IDT in the fourth quarter worth approximately $201,000. Bailard Inc. acquired a new stake in shares of IDT in the fourth quarter worth approximately $220,000. Arizona State Retirement System acquired a new stake in shares of IDT in the fourth quarter worth approximately $229,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in IDT during the fourth quarter worth $242,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at IDT

In other IDT news, CTO David Wartell sold 10,735 shares of IDT stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total value of $525,907.65. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 25.32% of the company’s stock.

IDT Stock Performance

NYSE IDT opened at $50.60 on Monday. The stock’s fifty day moving average is $48.29 and its two-hundred day moving average is $46.78. The firm has a market capitalization of $1.28 billion, a P/E ratio of 17.33 and a beta of 0.84. IDT Co. has a fifty-two week low of $33.84 and a fifty-two week high of $58.77.

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

IDT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 17th will be given a $0.06 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.24 dividend on an annualized basis and a yield of 0.47%. This is an increase from IDT’s previous quarterly dividend of $0.05. IDT’s payout ratio is currently 7.62%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised IDT from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 18th.

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.