Insider Selling: IDT (NYSE:IDT) EVP Sells $48,732.00 in Stock

IDT Corporation (NYSE:IDT) EVP Nadine Shea sold 600 shares of IDT stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $81.22, for a total value of $48,732.00. Following the transaction, the executive vice president directly owned 7,725 shares in the company, valued at approximately $627,424.50. The trade was a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

IDT Stock Up 1.6%

IDT stock traded up $1.28 during midday trading on Monday, hitting $81.95. The company’s stock had a trading volume of 318,565 shares, compared to its average volume of 193,382. The stock’s 50-day moving average price is $71.67 and its 200-day moving average price is $61.54. IDT Corporation has a 12 month low of $46.48 and a 12 month high of $83.18. The company has a market capitalization of $2.04 billion, a PE ratio of 23.62 and a beta of 0.60.

IDT (NYSE:IDT) last issued its quarterly earnings results on Monday, September 28th. The utilities provider reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.04). The business had revenue of $338.98 million during the quarter, compared to analyst estimates of $319.00 million. IDT had a net margin of 6.67% and a return on equity of 24.22%. As a group, equities analysts anticipate that IDT Corporation will post 3.86 EPS for the current year.

IDT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Monday, October 5th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, October 5th. This represents a $0.28 annualized dividend and a yield of 0.3%. IDT’s dividend payout ratio is currently 8.07%.

Institutional Trading of IDT

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Kahn Brothers Group Inc. purchased a new stake in IDT during the second quarter valued at about $20,453,000. Public Employees Retirement System of Ohio acquired a new position in shares of IDT in the second quarter worth about $596,000. Tidal Investments LLC purchased a new position in shares of IDT in the second quarter worth approximately $646,000. Integrated Wealth Concepts LLC purchased a new position in shares of IDT in the second quarter worth approximately $25,000. Finally, Allworth Financial LP increased its position in shares of IDT by 531.1% in the second quarter. Allworth Financial LP now owns 568 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 478 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IDT. Freedom Broker raised their target price on shares of IDT from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. Weiss Ratings raised IDT from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, October 6th. Finally, Zacks Research upgraded IDT to a “hold” rating in a research report on Monday, October 5th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

IDT Company Profile

IDT Corporation (NYSE: IDT) is a telecommunications and fintech company founded in 1990 by Howard Jonas. The company began as an international long-distance provider and has expanded into consumer communications, payment services and technology solutions for businesses and independent retailers.

Through its BOSS Revolution brand, IDT offers international calling, prepaid wireless services, mobile airtime and data top-ups, and international money-transfer services. Its communications operations also provide wholesale voice services and related connectivity solutions to carriers and other communications providers in markets worldwide.

IDT’s National Retail Solutions business provides independent retailers with point-of-sale technology, payment processing, business services and related tools.