IDT Corporation (NYSE:IDT) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of IDT Corporation (NYSE:IDT) by 50.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,936 shares of the utilities provider’s stock after selling 18,628 shares during the quarter. Victory Capital Management Inc. owned 0.07% of IDT worth $920,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of IDT. Park Square Financial Group LLC purchased a new stake in shares of IDT during the fourth quarter valued at $44,000. Copeland Capital Management LLC acquired a new stake in IDT during the 1st quarter worth about $57,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings 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 worth $116,000 after buying an additional 632 shares during the period. New Age Alpha Advisors LLC purchased a new stake in IDT during the fourth quarter valued at about $134,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of IDT in the fourth quarter worth about $180,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

IDT Stock Performance

NYSE IDT opened at $58.99 on Friday. The firm’s 50 day moving average price is $62.87 and its two-hundred day moving average price is $54.54. IDT Corporation has a twelve month low of $33.84 and a twelve month high of $71.12. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 15.56 and a beta of 0.73.

IDT (NYSE:IDT) last issued its earnings results on Thursday, June 5th. The utilities provider reported $0.87 EPS for the quarter. IDT had a return on equity of 26.38% and a net margin of 7.85%. The business had revenue of $301.98 million during the quarter.

IDT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 9th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. IDT’s dividend payout ratio is 6.33%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of IDT from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 14th.

IDT 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.