BlackRock Inc. raised its position in shares of IDT Co. (NYSE:IDT) by 183.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,141,747 shares of the utilities provider’s stock after acquiring an additional 739,402 shares during the quarter. BlackRock Inc. owned approximately 4.34% of IDT worth $10,812,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of IDT. Strs Ohio bought a new position in shares of IDT in the second quarter valued at approximately $615,000. Bailard Inc. bought a new position in shares of IDT in the second quarter valued at approximately $162,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of IDT in the second quarter valued at approximately $124,000. Menta Capital LLC bought a new position in shares of IDT in the second quarter valued at approximately $201,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of IDT by 22.5% in the second quarter. Acadian Asset Management LLC now owns 461,000 shares of the utilities provider’s stock valued at $4,366,000 after purchasing an additional 84,592 shares in the last quarter. 40.00% of the stock is currently owned by institutional investors and hedge funds.
IDT stock opened at $7.29 on Monday. IDT Co. has a twelve month low of $5.64 and a twelve month high of $11.84. The stock’s 50 day moving average is $9.57 and its 200-day moving average is $8.65. The firm has a market capitalization of $194.52 million, a PE ratio of 26.21 and a beta of 1.13.
Separately, ValuEngine upgraded IDT from a “sell” rating to a “hold” rating in a report on Thursday, October 10th.
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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