Grantham Mayo Van Otterloo & Co. LLC reduced its stake in IDT Co. (NYSE:IDT) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,700 shares of the utilities provider’s stock after selling 1,600 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.53% of IDT worth $925,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen Asset Management LLC increased its holdings in IDT by 29.8% in the 1st quarter. Nuveen Asset Management LLC now owns 316,420 shares of the utilities provider’s stock valued at $1,715,000 after purchasing an additional 72,593 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in IDT by 84.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,186 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 2,374 shares in the last quarter. State Street Corp increased its holdings in IDT by 1.1% in the 1st quarter. State Street Corp now owns 297,201 shares of the utilities provider’s stock valued at $1,611,000 after purchasing an additional 3,140 shares in the last quarter. Russell Investments Group Ltd. boosted its position in IDT by 4,103.9% in the 1st quarter. Russell Investments Group Ltd. now owns 99,337 shares of the utilities provider’s stock valued at $536,000 after buying an additional 96,974 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in IDT by 355.8% in the 1st quarter. JPMorgan Chase & Co. now owns 802,995 shares of the utilities provider’s stock valued at $4,352,000 after buying an additional 626,809 shares during the last quarter. Hedge funds and other institutional investors own 39.81% of the company’s stock.
NYSE:IDT opened at $6.38 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50-day moving average of $6.67 and a two-hundred day moving average of $6.36. The stock has a market cap of $169.38 million, a P/E ratio of 20.58 and a beta of 1.06. IDT Co. has a 1-year low of $4.81 and a 1-year high of $11.84.
IDT (NYSE:IDT) last posted its quarterly earnings data on Thursday, June 4th. The utilities provider reported $0.05 earnings per share for the quarter. The company had revenue of $321.34 million during the quarter. IDT had a net margin of 0.11% and a return on equity of 16.60%.
In other IDT news, Director Eric F. Cosentino sold 4,800 shares of the company’s stock in a transaction dated Thursday, July 16th. The shares were sold at an average price of $6.42, for a total value of $30,816.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 30.10% of the company’s stock.
IDT Corporation operates primarily in the telecommunications and payment industries in the United States and internationally. The company operates in two segments, Telecom & Payment Services, and net2phone-Unified Communications as a Service. The Telecom & Payment Services Services segment offers retail telecommunication products, including international long-distance calling products primarily to foreign-born communities; wholesale international long distance traffic termination services for tier 1 fixed line and mobile network operators, as well as for other service providers; and payment offerings, such as international and domestic airtime top-up, domestic bill payment, and international money transfer services.
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