Insider Selling: IDT (NYSE:IDT) EVP Sells $27,660.00 in Stock

IDT Corporation (NYSE:IDT) EVP Nadine Shea sold 500 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $55.32, for a total transaction of $27,660.00. Following the sale, the executive vice president directly owned 8,725 shares in the company, valued at $482,667. This represents a 5.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

IDT Trading Down 1.0%

Shares of IDT stock opened at $54.51 on Friday. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 16.67 and a beta of 0.68. IDT Corporation has a 1-year low of $45.72 and a 1-year high of $71.12. The firm’s 50-day moving average price is $52.44 and its two-hundred day moving average price is $50.76.

IDT (NYSE:IDT) last issued its quarterly earnings data on Wednesday, June 3rd. The utilities provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.05. The firm had revenue of $315.71 million for the quarter, compared to analysts’ expectations of $308.00 million. IDT had a net margin of 6.41% and a return on equity of 24.36%.

IDT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Tuesday, June 9th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, June 9th. IDT’s dividend payout ratio is 8.56%.

Institutional Trading of IDT

Several hedge funds have recently modified their holdings of IDT. Cooke & Bieler LP bought a new stake in shares of IDT during the fourth quarter valued at approximately $20,030,000. Millennium Management LLC lifted its holdings in IDT by 392.6% in the first quarter. Millennium Management LLC now owns 163,830 shares of the utilities provider’s stock valued at $8,406,000 after buying an additional 130,569 shares during the period. Geode Capital Management LLC lifted its holdings in IDT by 22.1% in the fourth quarter. Geode Capital Management LLC now owns 559,849 shares of the utilities provider’s stock valued at $28,675,000 after buying an additional 101,268 shares during the period. Marshall Wace LLP lifted its holdings in IDT by 1,436.4% in the second quarter. Marshall Wace LLP now owns 94,674 shares of the utilities provider’s stock valued at $6,468,000 after buying an additional 88,512 shares during the period. Finally, CSM Advisors LLC lifted its holdings in IDT by 107.4% in the fourth quarter. CSM Advisors LLC now owns 103,950 shares of the utilities provider’s stock valued at $5,321,000 after buying an additional 53,835 shares during the period. 59.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wall Street Zen cut shares of IDT from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 3rd. Weiss Ratings cut shares of IDT from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, IDT has an average rating of “Hold”.

About IDT

IDT Corporation, founded in 1990 and headquartered in Newark, New Jersey, is a diversified global provider of telecommunications and payment services. The company operates through its primary communications arm, IDT Telecom, and a digital solutions segment that encompasses cross-border money transfers and related fintech offerings. Since its inception, IDT has built an international network infrastructure to support voice and data transmission across more than 200 countries and territories.

Through IDT Telecom, the company offers a suite of voice communication products, including prepaid phone cards, VoIP services, SIP trunking and operator-assisted calling.