Panagora Asset Management Inc. Has $995,000 Stake in IDT Co. (NYSE:IDT)

Panagora Asset Management Inc. decreased its position in IDT Co. (NYSE:IDT) by 55.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,198 shares of the utilities provider’s stock after selling 37,077 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.12% of IDT worth $995,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IDT. Russell Investments Group Ltd. grew its position in IDT by 163.3% in the 4th quarter. Russell Investments Group Ltd. now owns 94,905 shares of the utilities provider’s stock worth $3,235,000 after purchasing an additional 58,859 shares in the last quarter. Algert Global LLC lifted its holdings in IDT by 91.5% during the third quarter. Algert Global LLC now owns 99,775 shares of the utilities provider’s stock worth $2,200,000 after acquiring an additional 47,670 shares during the period. Campbell & CO Investment Adviser LLC lifted its holdings in IDT by 397.1% during the third quarter. Campbell & CO Investment Adviser LLC now owns 41,492 shares of the utilities provider’s stock worth $915,000 after acquiring an additional 33,146 shares during the period. Assenagon Asset Management S.A. boosted its position in IDT by 38.8% in the third quarter. Assenagon Asset Management S.A. now owns 91,558 shares of the utilities provider’s stock worth $2,019,000 after purchasing an additional 25,575 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in IDT by 11.0% in the 3rd quarter. Deutsche Bank AG now owns 160,460 shares of the utilities provider’s stock valued at $3,538,000 after purchasing an additional 15,903 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Insider Activity at IDT

In other IDT news, CAO Mitch Silberman sold 2,115 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $38.01, for a total transaction of $80,391.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Mitch Silberman sold 2,115 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $38.01, for a total value of $80,391.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Bill Pereira sold 15,647 shares of IDT stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $37.95, for a total value of $593,803.65. Following the completion of the transaction, the chief operating officer now owns 49,999 shares of the company’s stock, valued at $1,897,462.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,192 shares of company stock worth $690,075. Company insiders own 15.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of IDT from a “hold” rating to a “buy” rating in a report on Thursday, March 7th.

IDT Stock Down 0.1 %

IDT stock opened at $40.59 on Thursday. The company has a market capitalization of $1.03 billion, a P/E ratio of 27.99 and a beta of 0.99. The firm has a 50 day moving average price of $37.74 and a 200-day moving average price of $34.80. IDT Co. has a twelve month low of $21.64 and a twelve month high of $41.10.

IDT (NYSE:IDT) last announced its quarterly earnings data on Wednesday, March 6th. The utilities provider reported $0.59 earnings per share for the quarter. The business had revenue of $296.10 million during the quarter. IDT had a return on equity of 20.18% and a net margin of 3.08%.

IDT Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, March 18th. IDT’s dividend payout ratio is currently 13.79%.

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.