Public Employees Retirement System of Ohio Makes New Investment in IDT Corporation $IDT

Public Employees Retirement System of Ohio purchased a new stake in IDT Corporation (NYSE:IDT) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 10,254 shares of the utilities provider’s stock, valued at approximately $596,000.

A number of other institutional investors have also modified their holdings of the business. Geode Capital Management LLC lifted its holdings in IDT by 22.1% in the fourth quarter. Geode Capital Management LLC now owns 559,849 shares of the utilities provider’s stock worth $28,675,000 after acquiring an additional 101,268 shares during the last quarter. Cooke & Bieler LP acquired a new position in IDT in the fourth quarter valued at approximately $20,030,000. Millennium Management LLC grew its holdings in shares of IDT by 392.6% during the first quarter. Millennium Management LLC now owns 163,830 shares of the utilities provider’s stock valued at $8,406,000 after purchasing an additional 130,569 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of IDT by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 117,607 shares of the utilities provider’s stock valued at $5,774,000 after purchasing an additional 1,088 shares during the last quarter. Finally, CSM Advisors LLC raised its position in shares of IDT by 107.4% during the 4th quarter. CSM Advisors LLC now owns 103,950 shares of the utilities provider’s stock worth $5,321,000 after purchasing an additional 53,835 shares during the period. Institutional investors own 59.34% of the company’s stock.

IDT Stock Up 2.0%

IDT stock opened at $69.36 on Friday. IDT Corporation has a 52-week low of $45.72 and a 52-week high of $70.00. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 21.21 and a beta of 0.62. The firm has a 50-day moving average price of $65.60 and a two-hundred day moving average price of $56.81.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded IDT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, IDT has a consensus rating of “Hold”.

Insider Buying and Selling at IDT

In other news, CFO Marcelo Fischer sold 23,323 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $56.98, for a total transaction of $1,328,944.54. Following the completion of the transaction, the chief financial officer directly owned 32,824 shares in the company, valued at approximately $1,870,311.52. The trade was a 41.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 25.41% of the company’s stock.

IDT Company Profile

IDT Corporation, founded in 1990 and headquartered in Newark, New Jersey, is a diversified global provider of telecommunications and payment services. The company operates through its primary communications arm, IDT Telecom, and a digital solutions segment that encompasses cross-border money transfers and related fintech offerings. Since its inception, IDT has built an international network infrastructure to support voice and data transmission across more than 200 countries and territories.

Through IDT Telecom, the company offers a suite of voice communication products, including prepaid phone cards, VoIP services, SIP trunking and operator-assisted calling.