IDT (NYSE:IDT) Stock Price Down 1.7% – Here’s What Happened

Shares of IDT Co. (NYSE:IDT) traded down 1.7% during mid-day trading on Friday . The stock traded as low as $46.46 and last traded at $46.73. 18,763 shares changed hands during trading, a decline of 78% from the average session volume of 84,007 shares. The stock had previously closed at $47.55.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of IDT from a “strong-buy” rating to a “buy” rating in a report on Monday.

IDT Trading Down 0.8 %

The company’s 50-day moving average is $47.90 and its two-hundred day moving average is $46.19. The stock has a market capitalization of $1.19 billion, a P/E ratio of 16.17 and a beta of 0.83.

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

IDT Increases Dividend

The company 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 dividend of $0.06 per share. This is a positive change from IDT’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Monday, March 17th. IDT’s dividend payout ratio (DPR) is presently 7.62%.

Insider Buying and Selling

In other IDT news, CTO David Wartell sold 17,116 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $47.11, for a total transaction of $806,334.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 25.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On IDT

Several hedge funds have recently made changes to their positions in IDT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of IDT by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,775 shares of the utilities provider’s stock valued at $417,000 after purchasing an additional 303 shares in the last quarter. Principal Financial Group Inc. raised its position in IDT by 8.5% during the fourth quarter. Principal Financial Group Inc. now owns 6,097 shares of the utilities provider’s stock valued at $290,000 after buying an additional 477 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in IDT by 35.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider’s stock worth $116,000 after acquiring an additional 632 shares in the last quarter. MetLife Investment Management LLC boosted its position in IDT by 7.4% during the 4th quarter. MetLife Investment Management LLC now owns 9,294 shares of the utilities provider’s stock worth $442,000 after acquiring an additional 643 shares during the period. Finally, Aquatic Capital Management LLC grew its position in IDT by 12.3% during the fourth quarter. Aquatic Capital Management LLC now owns 6,737 shares of the utilities provider’s stock valued at $320,000 after purchasing an additional 737 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.