Here is What Hedge Funds Think About IDT Corporation (IDT)

Now, key hedge funds were leading the bulls’ herd. Algert Coldiron Investors created the largest position in IDT Corporation (NYSE:IDT). Algert Coldiron Investors had $1 million invested in the company at the end of the quarter. Matthew Hulsizer’s PEAK6 Capital Management also initiated a $0.7 million position during the quarter.

Let’s check out hedge fund activity in other stocks similar to IDT Corporation (NYSE:IDT). These stocks are Extreme Networks, Inc (NASDAQ:EXTR), ProQR Therapeutics NV (NASDAQ:PRQR), Regulus Therapeutics Inc (NASDAQ:RGLS), and First Defiance Financial (NASDAQ:FDEF). All of these stocks’ market caps match IDT Corporation (NYSE:IDT)’s market cap.

As you can see, these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $57 million. That figure was $31 million in IDT Corporation (NYSE:IDT)’s case. Extreme Networks, Inc (NASDAQ:EXTR) is the most popular stock in this table. On the other hand, First Defiance Financial (NASDAQ:FDEF) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks, IDT Corporation (NYSE:IDT) is even less popular than First Defiance Financial (NASDAQ:FDEF). Considering that hedge funds aren’t fond of this stock in relation to other companies compared in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.