Summit Global Investments Buys New Shares in IDT Co. (NYSE:IDT)

Summit Global Investments bought a new stake in IDT Co. (NYSE:IDT - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 16,678 shares of the utilities provider's stock, valued at approximately $637,000. Summit Global Investments owned 0.07% of IDT at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in IDT by 2.3% in the 1st quarter. BNP Paribas Financial Markets now owns 13,805 shares of the utilities provider's stock worth $522,000 after acquiring an additional 309 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in IDT by 40.3% in the 1st quarter. Russell Investments Group Ltd. now owns 133,195 shares of the utilities provider's stock valued at $5,036,000 after purchasing an additional 38,290 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in IDT by 28.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 26,642 shares of the utilities provider's stock worth $1,007,000 after acquiring an additional 5,842 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in IDT by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,647 shares of the utilities provider's stock valued at $479,000 after acquiring an additional 635 shares in the last quarter. Finally, Aristides Capital LLC acquired a new position in shares of IDT during the 1st quarter worth approximately $268,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

IDT Price Performance

Shares of IDT traded up $0.35 during mid-day trading on Friday, reaching $50.30. The stock had a trading volume of 115,633 shares, compared to its average volume of 130,907. IDT Co. has a 52-week low of $27.09 and a 52-week high of $50.75. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 19.80 and a beta of 0.77. The business's fifty day moving average is $42.37 and its 200 day moving average is $39.08.

IDT (NYSE:IDT - Get Free Report) last released its quarterly earnings data on Tuesday, October 8th. The utilities provider reported $0.51 EPS for the quarter. The firm had revenue of $308.83 million for the quarter. IDT had a return on equity of 19.44% and a net margin of 5.35%.

IDT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.20 annualized dividend and a yield of 0.40%. IDT's dividend payout ratio (DPR) is currently 7.87%.

Insider Buying and Selling at IDT

In other news, CFO Marcelo Fischer sold 600 shares of the business's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $48.57, for a total value of $29,142.00. Following the sale, the chief financial officer now directly owns 37,573 shares of the company's stock, valued at approximately $1,824,920.61. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Bill Pereira sold 29,175 shares of the business's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $47.24, for a total value of $1,378,227.00. Following the sale, the chief operating officer now owns 40,000 shares in the company, valued at approximately $1,889,600. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marcelo Fischer sold 600 shares of the stock in a transaction dated Monday, October 14th. The stock was 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,582 shares of company stock valued at $1,632,568 over the last 90 days. 15.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded IDT from a "buy" rating to a "strong-buy" rating in a research report on Friday, July 19th.

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.