IDT Co. (NYSE:IDT) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of IDT Co. (NYSE:IDT) by 29.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,243 shares of the utilities provider’s stock after selling 8,976 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in IDT were worth $811,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. New York State Teachers Retirement System purchased a new stake in IDT during the third quarter valued at about $54,000. Point72 Asset Management L.P. lifted its stake in shares of IDT by 176.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,600 shares of the utilities provider’s stock valued at $129,000 after purchasing an additional 2,300 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of IDT during the 2nd quarter worth about $203,000. Versor Investments LP acquired a new stake in IDT during the 3rd quarter worth approximately $213,000. Finally, Principal Financial Group Inc. raised its holdings in IDT by 9.3% in the second quarter. Principal Financial Group Inc. now owns 7,332 shares of the utilities provider’s stock valued at $263,000 after buying an additional 625 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

IDT Stock Up 1.3 %

IDT opened at $47.87 on Friday. The company has a 50 day moving average of $49.29 and a two-hundred day moving average of $41.48. IDT Co. has a 52-week low of $32.08 and a 52-week high of $58.77. The company has a market cap of $1.21 billion, a P/E ratio of 16.39 and a beta of 0.78.

IDT (NYSE:IDT) last posted its earnings results on Tuesday, October 8th. The utilities provider reported $0.51 earnings per share 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 Cuts Dividend

The business also recently announced a dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 24th will be given a $0.05 dividend. This represents a dividend yield of 0.42%. The ex-dividend date is Monday, December 23rd. IDT’s payout ratio is 6.85%.

Insider Activity

In other news, CFO Marcelo Fischer sold 600 shares of IDT stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $48.57, for a total transaction of $29,142.00. Following the sale, the chief financial officer now directly owns 37,573 shares of the company’s stock, valued at approximately $1,824,920.61. The trade was a 1.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nadine Shea sold 1,000 shares of the 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 completion of the transaction, the executive vice president now directly owns 4,775 shares of the company’s stock, valued at $256,608.50. This represents a 17.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,582 shares of company stock worth $1,686,308. 25.32% of the stock is currently owned by corporate insiders.

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.