Los Angeles Capital Management LLC Trims Stake in IDT Co. (NYSE:IDT)

Los Angeles Capital Management LLC lessened its position in IDT Co. (NYSE:IDT) by 14.1% in the fourth quarter, HoldingsChannel reports. The firm owned 17,599 shares of the utilities provider’s stock after selling 2,900 shares during the quarter. Los Angeles Capital Management LLC’s holdings in IDT were worth $836,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. New York State Teachers Retirement System purchased a new stake in IDT in the third quarter worth about $54,000. Hennion & Walsh Asset Management Inc. bought a new stake in shares of IDT in the 4th quarter worth approximately $200,000. Versor Investments LP purchased a new stake in shares of IDT in the 3rd quarter worth approximately $213,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in IDT during the 4th quarter valued at approximately $242,000. Finally, New York State Common Retirement Fund raised its stake in IDT by 26.0% during the fourth 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 last quarter. 59.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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 Trading Up 0.2 %

Shares of IDT opened at $48.66 on Monday. IDT Co. has a 12 month low of $33.84 and a 12 month high of $58.77. The business’s fifty day simple moving average is $47.79 and its two-hundred day simple moving average is $45.60. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 16.66 and a beta of 0.80.

IDT (NYSE:IDT) last posted its earnings results 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 company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 24th were issued a $0.05 dividend. This represents a dividend yield of 0.42%. The ex-dividend date was Monday, December 23rd. IDT’s payout ratio is currently 6.85%.

Insider Activity at IDT

In related news, EVP Nadine Shea sold 1,000 shares of the business’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 directly owns 4,775 shares in the company, valued at approximately $256,608.50. The trade was a 17.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO David Wartell sold 17,116 shares of IDT 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 disclosure for this sale can be found here. 25.32% of the stock is owned by company insiders.

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.