Algert Global LLC Sells 2,111 Shares of IDT Co. (NYSE:IDT)

Algert Global LLC decreased its stake in IDT Co. (NYSE:IDT) by 2.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 76,280 shares of the utilities provider’s stock after selling 2,111 shares during the period. Algert Global LLC’s holdings in IDT were worth $2,740,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. CWM LLC lifted its holdings in IDT by 53.2% in the 2nd quarter. CWM LLC now owns 1,797 shares of the utilities provider’s stock worth $65,000 after purchasing an additional 624 shares in the last quarter. XTX Topco Ltd bought a new position in shares of IDT during the second quarter worth $203,000. Principal Financial Group Inc. purchased a new position in IDT during the first quarter valued at $254,000. Aristides Capital LLC bought a new stake in IDT in the 1st quarter valued at $268,000. Finally, Quest Partners LLC lifted its stake in IDT by 57.1% in the 2nd quarter. Quest Partners LLC now owns 7,499 shares of the utilities provider’s stock worth $269,000 after purchasing an additional 2,727 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

IDT Price Performance

NYSE:IDT opened at $37.73 on Wednesday. The company has a market cap of $956.04 million, a price-to-earnings ratio of 26.95 and a beta of 0.79. IDT Co. has a 1 year low of $21.64 and a 1 year high of $41.58. The stock’s 50 day simple moving average is $37.43 and its two-hundred day simple moving average is $37.45.

IDT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 30th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Monday, September 30th. IDT’s payout ratio is 14.29%.

Insider Buying and Selling at IDT

In other news, EVP Joyce J. Mason sold 7,570 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $37.25, for a total value of $281,982.50. Following the sale, the executive vice president now directly owns 12,996 shares in the company, valued at approximately $484,101. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Joyce J. Mason sold 7,570 shares of IDT stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $37.25, for a total value of $281,982.50. Following the completion of the transaction, the executive vice president now owns 12,996 shares in the company, valued at approximately $484,101. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eric F. Cosentino sold 800 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $37.24, for a total value of $29,792.00. Following the sale, the director now owns 551 shares in the company, valued at approximately $20,519.24. The disclosure for this sale can be found here. 15.00% of the stock is owned by company 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 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.