Point72 DIFC Ltd Sells 425 Shares of IDT Co. (NYSE:IDT)

Point72 DIFC Ltd decreased its position in shares of IDT Co. (NYSE:IDT) by 30.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 980 shares of the utilities provider’s stock after selling 425 shares during the quarter. Point72 DIFC Ltd’s holdings in IDT were worth $35,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in shares of IDT by 2.3% during the 1st quarter. BNP Paribas Financial Markets now owns 13,805 shares of the utilities provider’s stock worth $522,000 after acquiring an additional 309 shares during the period. CWM LLC boosted its holdings in shares of IDT by 53.2% in the 2nd quarter. CWM LLC now owns 1,797 shares of the utilities provider’s stock valued at $65,000 after purchasing an additional 624 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of IDT by 9.3% in the 2nd quarter. Principal Financial Group Inc. now owns 7,332 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 625 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of IDT by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,647 shares of the utilities provider’s stock worth $479,000 after buying an additional 635 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in IDT by 3.4% in the second quarter. Rhumbline Advisers now owns 26,833 shares of the utilities provider’s stock valued at $964,000 after buying an additional 891 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com raised IDT from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 19th.

Insider Activity at IDT

In other IDT news, EVP Joyce J. Mason sold 7,570 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $37.25, for a total value of $281,982.50. Following the completion of the transaction, the executive vice president now owns 12,996 shares of the company’s stock, valued at approximately $484,101. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Eric F. Cosentino sold 800 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $37.24, for a total transaction of $29,792.00. Following the completion of the transaction, the director now owns 551 shares of the company’s stock, valued at $20,519.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joyce J. Mason sold 7,570 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $37.25, for a total transaction of $281,982.50. Following the completion of the sale, the executive vice president now directly owns 12,996 shares in the company, valued at approximately $484,101. The disclosure for this sale can be found here. Insiders have sold a total of 8,870 shares of company stock valued at $329,880 in the last 90 days. 15.00% of the stock is owned by corporate insiders.

IDT Price Performance

IDT stock opened at $38.43 on Monday. IDT Co. has a 1 year low of $21.64 and a 1 year high of $41.58. The stock has a market cap of $973.78 million, a price-to-earnings ratio of 27.45 and a beta of 0.79. The company has a 50 day simple moving average of $37.41 and a 200 day simple moving average of $37.45.

IDT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 30th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Monday, September 30th. IDT’s payout ratio is 14.29%.

IDT Company 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.