Cornerstone Capital Management Holdings LLC. Buys New Stake in IDT Co. (IDT)

Cornerstone Capital Management Holdings LLC. bought a new stake in IDT Co. (NYSE:IDT) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 52,900 shares of the utilities provider’s stock, valued at approximately $744,000. Cornerstone Capital Management Holdings LLC. owned approximately 0.21% of IDT at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of IDT. Bank of New York Mellon Corp increased its position in IDT by 3.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 391,341 shares of the utilities provider’s stock worth $5,509,000 after purchasing an additional 12,646 shares in the last quarter. Foundry Partners LLC increased its position in IDT by 42.4% during the 3rd quarter. Foundry Partners LLC now owns 333,120 shares of the utilities provider’s stock worth $4,690,000 after purchasing an additional 99,175 shares in the last quarter. Old West Investment Management LLC increased its position in IDT by 63.5% during the 3rd quarter. Old West Investment Management LLC now owns 309,440 shares of the utilities provider’s stock worth $4,356,000 after purchasing an additional 120,173 shares in the last quarter. Seizert Capital Partners LLC increased its position in IDT by 68.7% during the 2nd quarter. Seizert Capital Partners LLC now owns 168,864 shares of the utilities provider’s stock worth $2,427,000 after purchasing an additional 68,771 shares in the last quarter. Finally, Kennedy Capital Management Inc. acquired a new position in IDT during the 2nd quarter worth approximately $2,115,000. Institutional investors own 52.80% of the company’s stock.

Shares of IDT Co. (NYSE IDT) opened at $10.22 on Tuesday. IDT Co. has a 1-year low of $10.12 and a 1-year high of $20.43. The firm has a market cap of $253.87, a P/E ratio of -15.48 and a beta of 1.16.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Monday, December 18th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 7.44%. The ex-dividend date is Friday, December 15th. IDT’s payout ratio is -115.15%.

Separately, TheStreet cut shares of IDT from a “b-” rating to a “c” rating in a research report on Tuesday, October 3rd.

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IDT Company Profile

IDT Corporation is a holding company with operations primarily in the telecommunications and payment industries. The Company’s segments include Telecom Platform Services, Consumer Phone Services and All Other. The Company’s Telecom Platform Services segment provides retail telecommunications and payment offerings, as well as wholesale international long distance traffic termination.

Institutional Ownership by Quarter for IDT (NYSE:IDT)

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