Bailard Inc. Purchases New Stake in IDT Co. (NYSE:IDT)

Bailard Inc. acquired a new position in shares of IDT Co. (NYSE:IDT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,633 shares of the utilities provider’s stock, valued at approximately $220,000.

Several other large investors have also recently bought and sold shares of the business. Principal Financial Group Inc. grew its stake in shares of IDT by 8.5% during the 4th quarter. Principal Financial Group Inc. now owns 6,097 shares of the utilities provider’s stock worth $290,000 after purchasing an additional 477 shares during the period. New York State Common Retirement Fund boosted its holdings in IDT by 26.0% during the fourth quarter. New York State Common Retirement Fund now owns 5,329 shares of the utilities provider’s stock worth $253,000 after buying an additional 1,100 shares in the last quarter. Martingale Asset Management L P grew its position in IDT by 6.6% during the third quarter. Martingale Asset Management L P now owns 20,396 shares of the utilities provider’s stock worth $779,000 after buying an additional 1,264 shares during the period. New York State Teachers Retirement System purchased a new position in IDT in the third quarter valued at about $54,000. Finally, BNP Paribas Financial Markets lifted its position in shares of IDT by 15.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,376 shares of the utilities provider’s stock valued at $434,000 after acquiring an additional 1,547 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Insider Activity at IDT

In other IDT news, EVP Nadine Shea sold 1,000 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $53.74, for a total value of $53,740.00. Following the transaction, the executive vice president now directly owns 4,775 shares in the company, valued at approximately $256,608.50. This represents a 17.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO David Wartell sold 17,116 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $47.11, for a total transaction of $806,334.76. The disclosure for this sale can be found here. 25.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com upgraded IDT from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 1st.

IDT Stock Down 1.0 %

Shares of IDT stock opened at $46.51 on Thursday. IDT Co. has a fifty-two week low of $33.84 and a fifty-two week high of $58.77. The business has a fifty day simple moving average of $47.76 and a 200-day simple moving average of $45.76. The stock has a market cap of $1.17 billion, a P/E ratio of 15.93 and a beta of 0.80.

IDT (NYSE:IDT) last posted its earnings results on Wednesday, December 4th. The utilities provider reported $0.69 earnings per share for the quarter. IDT had a net margin of 6.10% and a return on equity of 22.18%.

IDT Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 24th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a dividend yield of 0.42%. IDT’s dividend payout ratio is currently 6.85%.

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.