Wealth Enhancement Advisory Services LLC Cuts Stake in IDT Co. (NYSE:IDT)

Wealth Enhancement Advisory Services LLC trimmed its stake in IDT Co. (NYSE:IDT) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 587,624 shares of the utilities provider’s stock after selling 1,691 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in IDT were worth $27,924,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. New York State Teachers Retirement System acquired a new stake in shares of IDT during the 3rd quarter worth $54,000. Point72 Asset Management L.P. increased its stake in IDT by 176.9% during the second quarter. Point72 Asset Management L.P. now owns 3,600 shares of the utilities provider’s stock worth $129,000 after acquiring an additional 2,300 shares during the last quarter. Versor Investments LP purchased a new position in shares of IDT in the 3rd quarter worth about $213,000. XTX Topco Ltd acquired a new position in shares of IDT in the 2nd quarter valued at about $203,000. Finally, SG Americas Securities LLC purchased a new stake in shares of IDT during the 3rd quarter worth about $265,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

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

IDT Stock Down 0.5 %

IDT opened at $45.79 on Friday. The firm’s 50 day moving average is $49.39 and its 200-day moving average is $42.67. IDT Co. has a 52-week low of $32.08 and a 52-week high of $58.77. The firm has a market capitalization of $1.16 billion, a P/E ratio of 15.68 and a beta of 0.81.

IDT Cuts Dividend

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

Insider Buying and Selling

In other IDT news, COO Bill Pereira sold 29,175 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $47.24, for a total transaction of $1,378,227.00. Following the sale, the chief operating officer now owns 40,000 shares in the company, valued at $1,889,600. This represents a 42.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Nadine Shea sold 1,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 4,775 shares of the company’s stock, valued at approximately $256,608.50. The trade was a 17.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,275 shares of company stock worth $2,472,187. Insiders own 25.32% of the company’s stock.

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.