Point72 Asset Management L.P. Purchases 9,796 Shares of IDT Co. (NYSE:IDT)

Point72 Asset Management L.P. lifted its stake in IDT Co. (NYSE:IDT - Free Report) by 272.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,396 shares of the utilities provider's stock after acquiring an additional 9,796 shares during the period. Point72 Asset Management L.P. owned approximately 0.05% of IDT worth $511,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cerity Partners LLC boosted its stake in IDT by 121.7% in the 3rd 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. Renaissance Technologies LLC boosted its position in shares of IDT by 2.7% in the second quarter. Renaissance Technologies LLC now owns 1,106,606 shares of the utilities provider's stock valued at $39,749,000 after acquiring an additional 29,100 shares during the period. Marshall Wace LLP purchased a new position in IDT during the second quarter valued at approximately $976,000. Americana Partners LLC bought a new stake in IDT during the 2nd quarter worth approximately $898,000. Finally, FMR LLC lifted its stake in IDT by 26.8% in the 3rd 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 currently owned by institutional investors.

Insider Activity at IDT

In other news, EVP Joyce J. Mason sold 2,290 shares of the company's stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $47.18, for a total value of $108,042.20. Following the completion of the transaction, the executive vice president now directly owns 37,113 shares in the company, valued at approximately $1,750,991.34. This represents a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marcelo Fischer sold 600 shares of the firm's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $48.57, for a total value of $29,142.00. Following the transaction, the chief financial officer now directly owns 37,573 shares in the company, valued at approximately $1,824,920.61. This represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,582 shares of company stock valued at $1,686,308 over the last three months. 25.32% of the stock is owned by corporate insiders.

IDT Price Performance

NYSE:IDT traded down $0.90 during trading hours on Thursday, hitting $50.56. The stock had a trading volume of 70,314 shares, compared to its average volume of 85,869. The company has a 50 day simple moving average of $48.59 and a two-hundred day simple moving average of $41.18. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 17.32 and a beta of 0.78. IDT Co. has a one year low of $31.20 and a one year high of $58.77.

IDT (NYSE:IDT - Get Free Report) last posted its earnings results on Tuesday, October 8th. The utilities provider reported $0.51 EPS for the quarter. IDT had a return on equity of 23.09% and a net margin of 6.10%. The business had revenue of $308.83 million during the quarter.

IDT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Monday, September 30th. IDT's dividend payout ratio (DPR) is 6.85%.

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.