Los Angeles Capital Management LLC Trims Stake in IDT Co. (NYSE:IDT)

Los Angeles Capital Management LLC trimmed its position in shares of IDT Co. (NYSE:IDT) by 11.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,499 shares of the utilities provider’s stock after selling 2,600 shares during the period. Los Angeles Capital Management LLC’s holdings in IDT were worth $782,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position in shares of IDT by 2.3% during the first quarter. BNP Paribas Financial Markets now owns 13,805 shares of the utilities provider’s stock valued at $522,000 after buying an additional 309 shares during the period. CWM LLC grew its position in IDT by 53.2% in the 2nd quarter. CWM LLC now owns 1,797 shares of the utilities provider’s stock valued at $65,000 after acquiring an additional 624 shares during the last quarter. Principal Financial Group Inc. grew its position in IDT by 9.3% in the 2nd quarter. Principal Financial Group Inc. now owns 7,332 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 625 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in IDT by 5.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,647 shares of the utilities provider’s stock worth $479,000 after purchasing an additional 635 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of IDT by 3.4% during the second quarter. Rhumbline Advisers now owns 26,833 shares of the utilities provider’s stock worth $964,000 after purchasing an additional 891 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Bill Pereira sold 29,175 shares of IDT stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $47.24, for a total transaction of $1,378,227.00. Following the transaction, the chief operating officer now directly owns 40,000 shares of the company’s stock, valued at $1,889,600. This trade 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 Joyce J. Mason sold 2,290 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $47.18, for a total value of $108,042.20. Following the sale, the executive vice president now owns 37,113 shares of the company’s stock, valued at approximately $1,750,991.34. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,582 shares of company stock valued at $1,632,568 over the last three months. 25.32% of the stock is owned by company insiders.

IDT Stock Performance

Shares of NYSE:IDT opened at $49.37 on Friday. The firm’s 50 day simple moving average is $43.32 and its 200-day simple moving average is $39.46. IDT Co. has a one year low of $27.09 and a one year high of $52.35. The firm has a market cap of $1.25 billion, a PE ratio of 19.48 and a beta of 0.77.

IDT (NYSE:IDT) last released its quarterly earnings data on Tuesday, October 8th. The utilities provider reported $0.51 EPS for the quarter. IDT had a return on equity of 19.44% and a net margin of 5.35%. The company had revenue of $308.83 million for the quarter.

IDT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.20 annualized dividend and a dividend yield of 0.41%. IDT’s payout ratio is currently 7.87%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of IDT from a “buy” rating to a “strong-buy” rating in a report on Friday, July 19th.

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.