Bailard Inc. Takes Position in IDT Co. (NYSE:IDT)

Bailard Inc. bought a new position in shares of IDT Co. (NYSE:IDT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,633 shares of the utilities provider’s stock, valued at approximately $220,000.

Other hedge funds have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System purchased a new position in shares of IDT during the 3rd quarter worth about $54,000. Hennion & Walsh Asset Management Inc. purchased a new position in IDT during the fourth quarter worth approximately $200,000. Versor Investments LP purchased a new position in IDT during the third quarter worth approximately $213,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of IDT in the 4th quarter valued at $242,000. Finally, New York State Common Retirement Fund grew its stake in shares of IDT by 26.0% during the 4th quarter. New York State Common Retirement Fund now owns 5,329 shares of the utilities provider’s stock valued at $253,000 after buying an additional 1,100 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

IDT Stock Performance

Shares of NYSE:IDT opened at $46.51 on Thursday. The stock has a 50-day simple moving average of $47.76 and a 200-day simple moving average of $45.76. The stock has a market capitalization of $1.17 billion, a P/E ratio of 15.93 and a beta of 0.80. IDT Co. has a 1 year low of $33.84 and a 1 year high of $58.77.

IDT (NYSE:IDT) last released its quarterly earnings data on Wednesday, December 4th. The utilities provider reported $0.69 earnings per share (EPS) 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%.

Insider Buying and Selling at IDT

In other news, EVP Nadine Shea sold 1,000 shares of IDT 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 sale, the executive vice president now owns 4,775 shares in the company, valued at $256,608.50. This trade represents a 17.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO David Wartell sold 17,116 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were 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. 25.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded IDT from a “buy” rating to a “strong-buy” rating in a report 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.