Magnetar Financial LLC Purchases Shares of 12,642 IDT Co. (NYSE:IDT)

Magnetar Financial LLC purchased a new stake in IDT Co. (NYSE:IDT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,642 shares of the utilities provider's stock, valued at approximately $601,000. Magnetar Financial LLC owned approximately 0.05% of IDT as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. acquired a new position in shares of IDT in the 4th quarter valued at $200,000. Raymond James Financial Inc. purchased a new position in IDT in the 4th quarter valued at $201,000. Bailard Inc. acquired a new position in IDT in the 4th quarter valued at $220,000. Arizona State Retirement System purchased a new position in IDT during the 4th quarter worth $229,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of IDT in the 4th quarter worth $242,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at IDT

In other news, CTO David Wartell sold 10,735 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total transaction of $525,907.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 25.32% of the stock is owned by insiders.

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IDT Price Performance

IDT stock traded up $0.47 during trading hours on Wednesday, hitting $52.29. The stock had a trading volume of 84,293 shares, compared to its average volume of 87,551. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 17.91 and a beta of 0.84. IDT Co. has a 1-year low of $33.84 and a 1-year high of $58.77. The stock's fifty day moving average is $48.51 and its two-hundred day moving average is $46.97.

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

IDT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 17th were paid a $0.06 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.24 dividend on an annualized basis and a yield of 0.46%. This is a positive change from IDT's previous quarterly dividend of $0.05. IDT's dividend payout ratio is presently 7.62%.

About IDT

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.