Old West Investment Management: “IDT is Creating Significantly More Value for Shareholders” Old West Investment Management, an investment management firm, published its first quarter 2021 investor letter – a copy of which can be downloaded here. An average return of 25% was delivered by the fund for the Q1 of 2021, ahead of its S&P 500 benchmark that delivered a 6% return for the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021. Old West Investment Management, in their Q1 2021 investor letter, mentioned IDT Corporation (NYSE: IDT), and shared their insights on the company. IDT Corporation is a Newark, New Jersey-based cloud communications provider that currently has a $615.7 million market capitalization. Since the beginning of the year, IDT delivered an impressive 93.65% return, massively extending its 12-month gains to 343.24%. As of April 28, 2021, the stock closed at $24.10 per share.