Los Angeles Capital Management LLC Sells 2,600 Shares of IDT Co. (NYSE:IDT)

Los Angeles Capital Management LLC lessened its holdings in IDT Co. (NYSE:IDT) by 11.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,499 shares of the utilities provider’s stock after selling 2,600 shares during the quarter. Los Angeles Capital Management LLC owned about 0.08% of IDT worth $782,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC increased its position in IDT by 2.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,106,606 shares of the utilities provider’s stock valued at $39,749,000 after buying an additional 29,100 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in IDT by 0.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 589,315 shares of the utilities provider’s stock worth $22,494,000 after purchasing an additional 2,169 shares in the last quarter. Russell Investments Group Ltd. increased its stake in IDT by 40.3% during 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. Bank of New York Mellon Corp raised its holdings in IDT by 7.5% in the second quarter. Bank of New York Mellon Corp now owns 78,361 shares of the utilities provider’s stock worth $2,815,000 after buying an additional 5,454 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of IDT by 19.9% in the second quarter. Bank of Montreal Can now owns 54,307 shares of the utilities provider’s stock worth $2,144,000 after purchasing an additional 9,012 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of IDT from a “buy” rating to a “strong-buy” rating in a report on Friday, July 19th.

Insider Buying and Selling

In related news, EVP Joyce J. Mason sold 2,094 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $46.18, for a total value of $96,700.92. Following the completion of the transaction, the executive vice president now owns 21,878 shares of the company’s stock, valued at approximately $1,010,326.04. This represents a 8.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Marcelo Fischer sold 600 shares of the business’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 completion of the transaction, the chief financial officer now owns 37,573 shares in the company, valued at $1,824,920.61. The trade was a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,582 shares of company stock valued at $1,632,568. 25.32% of the stock is owned by corporate insiders.

IDT Price Performance

IDT stock opened at $49.37 on Friday. The company has a market cap of $1.25 billion, a P/E ratio of 19.48 and a beta of 0.77. IDT Co. has a 1 year low of $27.09 and a 1 year high of $52.35. The stock’s fifty day moving average price is $43.32 and its 200-day moving average price is $39.46.

IDT (NYSE:IDT) last released its quarterly earnings results on Tuesday, October 8th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter. IDT had a return on equity of 19.44% and a net margin of 5.35%. The business had revenue of $308.83 million during the quarter.

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 paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.41%. IDT’s dividend payout ratio (DPR) is presently 7.87%.

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.