Magnetar Financial LLC Invests $601,000 in IDT Co. (NYSE:IDT)

Magnetar Financial LLC bought a new position in shares of IDT Co. (NYSE:IDT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,642 shares of the utilities provider’s stock, valued at approximately $601,000. Magnetar Financial LLC owned approximately 0.05% of IDT as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of IDT. Victory Capital Management Inc. grew its holdings in shares of IDT by 7.3% during the 3rd quarter. Victory Capital Management Inc. now owns 34,313 shares of the utilities provider’s stock worth $1,310,000 after purchasing an additional 2,320 shares in the last quarter. Quest Partners LLC grew its holdings in shares of IDT by 40.7% during the 3rd quarter. Quest Partners LLC now owns 10,554 shares of the utilities provider’s stock worth $403,000 after purchasing an additional 3,055 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of IDT by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 157,808 shares of the utilities provider’s stock worth $6,024,000 after purchasing an additional 6,183 shares in the last quarter. Cerity Partners LLC boosted its stake in IDT by 121.7% in the third quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider’s stock valued at $3,653,000 after buying an additional 52,532 shares in the last quarter. Finally, FMR LLC boosted its stake in IDT by 26.8% in the third quarter. FMR LLC now owns 83,868 shares of the utilities provider’s stock valued at $3,201,000 after buying an additional 17,725 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CTO David Wartell sold 10,735 shares of IDT stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total transaction of $525,907.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 25.32% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised IDT from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

IDT Stock Down 0.7 %

NYSE:IDT opened at $50.60 on Friday. The stock’s 50-day simple moving average is $48.29 and its 200 day simple moving average is $46.67. The firm has a market capitalization of $1.28 billion, a PE ratio of 17.33 and a beta of 0.84. IDT Co. has a twelve month low of $33.84 and a twelve month high of $58.77.

IDT (NYSE:IDT) last released its quarterly earnings data on Thursday, March 6th. The utilities provider reported $0.81 earnings per share for the quarter. The business had revenue of $303.35 million for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%.

IDT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.47%. This is a positive change from IDT’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Monday, March 17th. IDT’s dividend payout ratio (DPR) is presently 7.62%.

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.