Fri Sep 20 07:43:15 UTC 2024: ## Victory Capital Trims IDT Stake, Other Investors Show Interest

**New York, NY (MarketBeat News) -** Victory Capital Management Inc. reduced its position in IDT Co. (NYSE:IDT) by 19% during the second quarter, according to a recent Form 13F filing. The firm now holds 31,993 shares of the utilities provider, valued at $1,149,000.

While Victory Capital trimmed its stake, several other institutional investors adjusted their holdings in IDT. CWM LLC increased its position by 53.2%, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake by 58.5%, and both Principal Financial Group Inc. and Aristides Capital LLC initiated new positions in the company. Additionally, Harbor Capital Advisors Inc. boosted its stake by 35.5%.

Overall, institutional investors currently own 59.34% of IDT’s stock.

IDT opened at $39.16 on Friday, with a market capitalization of $992.28 million. The company provides communications and payment services globally through its various segments, including Fintech, National Retail Solutions, net2phone, and Traditional Communications.

Separately, StockNews.com upgraded IDT to a “strong-buy” rating on July 19th.

This recent activity suggests continued interest in IDT, despite Victory Capital’s reduced stake. The company’s strong financial performance and diverse business operations seem to be attracting investors.

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