Cubist Systematic Strategies LLC Buys 9,023 Shares of IDT Co. (NYSE:IDT)

Cubist Systematic Strategies LLC lifted its stake in IDT Co. (NYSE:IDT) by 34.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,178 shares of the utilities provider’s stock after purchasing an additional 9,023 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.14% of IDT worth $1,264,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of IDT. Orchard Capital Management LLC increased its position in IDT by 5.4% during the fourth quarter. Orchard Capital Management LLC now owns 282,466 shares of the utilities provider’s stock valued at $9,629,000 after acquiring an additional 14,466 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of IDT during the 1st quarter worth about $23,276,000. Allspring Global Investments Holdings LLC boosted its stake in shares of IDT by 18.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 27,267 shares of the utilities provider’s stock worth $1,031,000 after purchasing an additional 4,294 shares during the period. Principal Financial Group Inc. purchased a new position in shares of IDT during the 1st quarter worth about $254,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of IDT by 2.3% during the 1st quarter. BNP Paribas Financial Markets now owns 13,805 shares of the utilities provider’s stock worth $522,000 after purchasing an additional 309 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

IDT Trading Down 1.2 %

IDT stock opened at $37.73 on Wednesday. IDT Co. has a 12 month low of $21.64 and a 12 month high of $41.58. The company has a 50-day moving average price of $37.43 and a 200 day moving average price of $37.45. The stock has a market cap of $956.04 million, a PE ratio of 26.95 and a beta of 0.79.

IDT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 30th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.20 annualized dividend and a yield of 0.53%. IDT’s dividend payout ratio (DPR) is 14.29%.

Insider Buying and Selling at IDT

In other IDT news, EVP Joyce J. Mason sold 7,570 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $37.25, for a total value of $281,982.50. Following the completion of the sale, the executive vice president now directly owns 12,996 shares of the company’s stock, valued at approximately $484,101. The transaction was disclosed in a filing with the SEC, which is available through this link. In other IDT news, EVP Joyce J. Mason sold 7,570 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $37.25, for a total value of $281,982.50. Following the completion of the sale, the executive vice president now directly owns 12,996 shares of the company’s stock, valued at approximately $484,101. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Eric F. Cosentino sold 800 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $37.24, for a total transaction of $29,792.00. Following the completion of the sale, the director now directly owns 551 shares of the company’s stock, valued at $20,519.24. The disclosure for this sale can be found here. 15.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of IDT from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 19th.

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.