Verition Fund Management LLC Makes New Investment in IDT Co. (NYSE:IDT)

Verition Fund Management LLC purchased a new stake in IDT Co. (NYSE:IDT) in the third quarter, HoldingsChannel reports. The firm purchased 7,165 shares of the utilities provider’s stock, valued at approximately $273,000.

Several other institutional investors have also made changes to their positions in the stock. Ritholtz Wealth Management acquired a new position in IDT in the 2nd quarter valued at $537,000. Cerity Partners LLC increased its position in shares of IDT by 121.7% in the third quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider’s stock worth $3,653,000 after purchasing an additional 52,532 shares during the period. Summit Global Investments bought a new position in shares of IDT in the third quarter worth $637,000. Americana Partners LLC acquired a new position in IDT in the second quarter valued at about $898,000. Finally, Marshall Wace LLP bought a new stake in IDT during the second quarter worth about $976,000. 59.34% of the stock is currently owned by institutional investors.

IDT Stock Down 1.0 %

IDT stock opened at $50.08 on Friday. The company’s 50-day moving average price is $48.83 and its two-hundred day moving average price is $41.24. The firm has a market cap of $1.26 billion, a P/E ratio of 17.15 and a beta of 0.78. IDT Co. has a 12 month low of $31.97 and a 12 month high of $58.77.

IDT (NYSE:IDT) last announced its quarterly earnings data on Tuesday, October 8th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter. IDT had a net margin of 6.10% and a return on equity of 22.18%. The business had revenue of $308.83 million for the quarter.

IDT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were issued 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 0.40%. IDT’s dividend payout ratio (DPR) is currently 6.85%.

Insider Buying and Selling

In related news, CFO Marcelo Fischer sold 600 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $1,824,920.61. This represents a 1.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nadine Shea sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $53.74, for a total transaction of $53,740.00. Following the completion of the sale, the executive vice president now owns 4,775 shares in the company, valued at $256,608.50. This represents a 17.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,582 shares of company stock worth $1,686,308 in the last ninety days. 25.32% of the stock is owned by insiders.

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.