Proficio Capital Partners LLC Invests $1.02 Million in IDT Co. (NYSE:IDT)

Proficio Capital Partners LLC acquired a new stake in shares of IDT Co. (NYSE:IDT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,432 shares of the utilities provider's stock, valued at approximately $1,018,000. Proficio Capital Partners LLC owned 0.08% of IDT at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of IDT. Point72 Asset Management L.P. lifted its position in shares of IDT by 272.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 13,396 shares of the utilities provider's stock valued at $511,000 after buying an additional 9,796 shares during the last quarter. JPMorgan Chase & Co. raised its stake in IDT by 10.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 55,876 shares of the utilities provider's stock valued at $2,133,000 after acquiring an additional 5,417 shares during the period. Barclays PLC lifted its holdings in IDT by 240.3% during the third quarter. Barclays PLC now owns 27,066 shares of the utilities provider's stock valued at $1,034,000 after purchasing an additional 19,112 shares during the last quarter. Cerity Partners LLC boosted its position in IDT by 121.7% during the third quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider's stock worth $3,653,000 after purchasing an additional 52,532 shares during the period. Finally, FMR LLC increased its stake in shares of IDT by 26.8% in the third quarter. FMR LLC now owns 83,868 shares of the utilities provider's stock worth $3,201,000 after purchasing an additional 17,725 shares in the last quarter. 59.34% of the stock is owned by institutional investors.

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Insider Buying and Selling

In related news, CTO David Wartell sold 10,735 shares of the 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 legal filing with the SEC, which is accessible through this link. 25.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of IDT from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, March 18th.

IDT Price Performance

Shares of IDT stock traded down $0.45 during trading hours on Tuesday, reaching $51.78. The company had a trading volume of 101,752 shares, compared to its average volume of 87,386. The firm has a market cap of $1.31 billion, a PE ratio of 17.73 and a beta of 0.84. IDT Co. has a one year low of $33.84 and a one year high of $58.77. The business has a fifty day simple moving average of $48.41 and a 200 day simple moving average of $46.87.

IDT (NYSE:IDT - Get Free Report) last issued its earnings results on Thursday, March 6th. The utilities provider reported $0.81 EPS for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%. The business had revenue of $303.35 million during the quarter.

IDT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 17th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.46%. This is a boost from IDT's previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Monday, March 17th. IDT's payout ratio is presently 7.62%.

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.