Millennium Management LLC Decreases Stock Holdings in IDT Co. (NYSE:IDT)

Millennium Management LLC trimmed its position in IDT Co. (NYSE:IDT) by 44.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,261 shares of the utilities provider’s stock after selling 27,084 shares during the quarter. Millennium Management LLC owned 0.13% of IDT worth $1,581,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in IDT by 35.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider’s stock valued at $116,000 after purchasing an additional 632 shares during the period. Quantbot Technologies LP purchased a new position in IDT during the 4th quarter valued at $129,000. New Age Alpha Advisors LLC purchased a new position in IDT during the 4th quarter valued at $134,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in IDT during the 4th quarter valued at $180,000. Finally, Raymond James Financial Inc. purchased a new position in IDT during the 4th quarter valued at $201,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CTO David Wartell sold 10,735 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total value of $525,907.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 25.32% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of IDT from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 18th.

IDT Stock Down 2.5%

NYSE:IDT opened at $58.95 on Wednesday. The company’s 50 day moving average price is $53.54 and its 200-day moving average price is $50.51. IDT Co. has a 52 week low of $33.84 and a 52 week high of $62.97. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 20.19 and a beta of 0.69.

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

IDT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 17th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.24 annualized dividend and a yield of 0.41%. This is an increase from IDT’s previous quarterly dividend of $0.05. IDT’s payout ratio is currently 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.