Sei Investments Co. Purchases New Stake in IDT Co. (NYSE:IDT)

Sei Investments Co. acquired a new position in shares of IDT Co. (NYSE:IDT) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,193 shares of the utilities provider’s stock, valued at approximately $294,000.

A number of other large investors have also recently bought and sold shares of IDT. Quantbot Technologies LP bought a new stake in shares of IDT during the 4th quarter worth approximately $129,000. Hennion & Walsh Asset Management Inc. acquired a new position in IDT during the fourth quarter valued at approximately $200,000. Raymond James Financial Inc. acquired a new stake in shares of IDT in the 4th quarter valued at $201,000. Bailard Inc. bought a new position in shares of IDT in the 4th quarter valued at $220,000. Finally, Arizona State Retirement System bought a new stake in shares of IDT during the 4th quarter worth $229,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised IDT from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 18th.

Insider Activity

In related news, CTO David Wartell sold 10,735 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $48.99, for a total value of $525,907.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 25.32% of the stock is currently owned by insiders.

IDT Price Performance

Shares of NYSE:IDT opened at $47.59 on Friday. The firm has a 50 day simple moving average of $49.14 and a 200 day simple moving average of $47.99. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 16.30 and a beta of 0.58. IDT Co. has a one year low of $33.84 and a one year high of $58.77.

IDT (NYSE:IDT) last announced its quarterly earnings results on Thursday, March 6th. The utilities provider reported $0.81 EPS for the quarter. The company had revenue of $303.35 million during 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 was paid on Tuesday, March 25th. Stockholders of record on Monday, March 17th were issued a dividend of $0.06 per share. This is a boost from IDT’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, March 17th. IDT’s payout ratio is 7.62%.

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.