Stock Traders Purchase Large Volume of IDT Put Options (IDT)

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IDT Co. (NYSE:IDT) was the target of some unusual options trading activity on Wednesday. Stock traders acquired 5,389 put options on the stock. This represents an increase of approximately 1,049% compared to the average volume of 469 put options.

Several analysts recently weighed in on IDT shares. UBS Group upgraded shares of IDT from a “sell” rating to a “hold” rating in a report on Wednesday, March 28th. ValuEngine cut shares of IDT from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, TheStreet cut shares of IDT from a “c-” rating to a “d+” rating in a report on Friday, April 27th.

Several hedge funds have recently made changes to their positions in IDT. Jane Street Group LLC bought a new stake in shares of IDT during the 1st quarter valued at $101,000. AXA bought a new stake in shares of IDT during the 4th quarter valued at $128,000. A.R.T. Advisors LLC boosted its holdings in shares of IDT by 164.0% during the 1st quarter. A.R.T. Advisors LLC now owns 33,964 shares of the utilities provider’s stock valued at $212,000 after buying an additional 21,100 shares in the last quarter. Symons Capital Management Inc. boosted its holdings in shares of IDT by 234.7% during the 1st quarter. Symons Capital Management Inc. now owns 40,337 shares of the utilities provider’s stock valued at $253,000 after buying an additional 28,285 shares in the last quarter. Finally, Matarin Capital Management LLC bought a new stake in shares of IDT during the 1st quarter valued at $255,000. Hedge funds and other institutional investors own 46.48% of the company’s stock.

NYSE:IDT opened at $5.64 on Thursday. IDT has a twelve month low of $4.87 and a twelve month high of $16.48.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Tuesday, June 19th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 6.38%. The ex-dividend date of this dividend is Monday, June 18th.

IDT Company Profile

IDT Corporation, through its subsidiaries, operates primarily in the telecommunications and payment industries in the United States and internationally. It operates in three segments: Telecom Platform Services, Unified Communications as a Service, and Consumer Phone Services. The Telecom Platform Services segment offers retail telecommunication products, including international long-distance calling products primarily to foreign-born communities; payment offerings, such as international and domestic airtime top-up, and international money transfer services; and wholesale international long distance traffic termination services for tier 1 fixed line and mobile network operators, as well as for other service providers.

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