Royce & Associates LP Sells 6,470 Shares of IDT Co. (NYSE:IDT)

Royce & Associates LP trimmed its holdings in shares of IDT Co. (NYSE:IDT - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 591,849 shares of the utilities provider's stock after selling 6,470 shares during the quarter. Royce & Associates LP owned 2.34% of IDT worth $28,125,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of IDT. Point72 Asset Management L.P. boosted its holdings in shares of IDT by 272.1% in the third 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 period. Proficio Capital Partners LLC acquired a new position in IDT in the 4th quarter worth $1,018,000. JPMorgan Chase & Co. raised its stake in shares of 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 purchasing an additional 5,417 shares during the period. Barclays PLC lifted its holdings in shares of IDT by 240.3% in 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 in the last quarter. Finally, Cerity Partners LLC boosted its position in shares of 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 buying an additional 52,532 shares during the period. 59.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CTO David Wartell sold 10,735 shares of the firm's stock in a transaction on Tuesday, March 18th. The shares were 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 Securities & Exchange Commission, which is available through this link. Insiders own 25.32% of the company's stock.

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Analyst Upgrades and Downgrades

Separately, StockNews.com raised IDT from a "buy" rating to a "strong-buy" rating in a research report on Tuesday.

IDT Stock Up 0.9 %

Shares of IDT stock traded up $0.45 during trading on Thursday, reaching $50.90. The company's stock had a trading volume of 107,673 shares, compared to its average volume of 86,338. IDT Co. has a one year low of $33.84 and a one year high of $58.77. The business has a fifty day moving average price of $48.10 and a 200-day moving average price of $46.55. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 17.43 and a beta of 0.84.

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

IDT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 17th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.47%. This is an increase from IDT's previous quarterly dividend of $0.05. The ex-dividend date is Monday, March 17th. IDT's dividend payout ratio (DPR) is currently 7.62%.

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.