Exchange Traded Concepts LLC Buys Shares of 6,016 IDT Co. (NYSE:IDT)

Exchange Traded Concepts LLC purchased a new position in shares of IDT Co. (NYSE:IDT) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 6,016 shares of the utilities provider’s stock, valued at approximately $286,000.

Other large investors have also made changes to their positions in the company. New York State Teachers Retirement System purchased a new position in IDT in the 3rd quarter valued at approximately $54,000. Point72 Asset Management L.P. raised its stake in shares of IDT by 176.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,600 shares of the utilities provider’s stock worth $129,000 after buying an additional 2,300 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in IDT during the 4th quarter valued at about $200,000. Versor Investments LP acquired a new position in IDT during the third quarter worth about $213,000. Finally, SG Americas Securities LLC purchased a new stake in shares of IDT in the third quarter valued at about $265,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Insider Transactions at IDT

In related news, CTO David Wartell sold 17,116 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $47.11, for a total transaction of $806,334.76. The sale 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 firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $53.74, for a total transaction of $53,740.00. Following the completion of the sale, the executive vice president now owns 4,775 shares in the company, valued at $256,608.50. The trade was a 17.32 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 25.32% of the company’s stock.

Analyst Upgrades and Downgrades

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

IDT Stock Performance

Shares of IDT opened at $47.14 on Friday. The company’s 50 day simple moving average is $48.78 and its 200 day simple moving average is $43.75. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 16.14 and a beta of 0.81. IDT Co. has a 1 year low of $33.84 and a 1 year high of $58.77.

IDT (NYSE:IDT) last announced its quarterly earnings data on Wednesday, December 4th. The utilities provider reported $0.69 earnings per share for the quarter. IDT had a net margin of 6.10% and a return on equity of 22.18%.

IDT Cuts Dividend

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

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.