IDT Co. (NYSE:IDT) Shares Sold by Point72 DIFC Ltd

Point72 DIFC Ltd reduced its holdings in IDT Co. (NYSE:IDT) by 30.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 980 shares of the utilities provider’s stock after selling 425 shares during the quarter. Point72 DIFC Ltd’s holdings in IDT were worth $35,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in IDT. Renaissance Technologies LLC raised its stake in IDT by 2.7% during the second quarter. Renaissance Technologies LLC now owns 1,106,606 shares of the utilities provider’s stock worth $39,749,000 after purchasing an additional 29,100 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of IDT in the 1st quarter worth $23,276,000. Orchard Capital Management LLC lifted its stake in shares of IDT by 5.4% in the 4th quarter. Orchard Capital Management LLC now owns 282,466 shares of the utilities provider’s stock valued at $9,629,000 after purchasing an additional 14,466 shares in the last quarter. Russell Investments Group Ltd. increased its position in IDT by 40.3% during the 1st quarter. Russell Investments Group Ltd. now owns 133,195 shares of the utilities provider’s stock worth $5,036,000 after purchasing an additional 38,290 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in IDT by 7.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 78,361 shares of the utilities provider’s stock worth $2,815,000 after purchasing an additional 5,454 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Joyce J. Mason sold 7,570 shares of IDT stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $37.25, for a total transaction of $281,982.50. Following the sale, the executive vice president now owns 12,996 shares in the company, valued at $484,101. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Joyce J. Mason sold 7,570 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $37.25, for a total transaction of $281,982.50. Following the completion of the sale, the executive vice president now directly owns 12,996 shares of the company’s stock, valued at approximately $484,101. The transaction 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 IDT stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $37.24, for a total transaction of $29,792.00. Following the sale, the director now directly 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.

IDT Price Performance

NYSE:IDT opened at $37.94 on Friday. IDT Co. has a 12 month low of $26.61 and a 12 month high of $41.58. The business’s 50-day moving average is $37.46 and its two-hundred day moving average is $37.45. The firm has a market capitalization of $961.36 million, a PE ratio of 27.10 and a beta of 0.79.

IDT Announces Dividend

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

Analyst Ratings Changes

Separately, StockNews.com raised shares of 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.