IDT (NYSE:IDT) Stock: Insider Mitch Silberman Sells 2,327 Shares

IDT Corporation (NYSE:IDT) CAO Mitch Silberman sold 2,327 shares of IDT stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $81.03, for a total transaction of $188,556.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Mitch Silberman also recently made the following trade(s):

• On Tuesday, October 13th, Mitch Silberman sold 805 shares of IDT stock. The shares were sold at an average price of $82.14, for a total transaction of $66,122.70.

IDT Stock Up 1.6%

Shares of IDT stock traded up $1.31 during trading hours on Thursday, reaching $82.39. 232,596 shares of the stock traded hands, compared to its average volume of 192,761. IDT Corporation has a 1-year low of $46.48 and a 1-year high of $82.91. The business has a fifty day moving average price of $71.03 and a 200 day moving average price of $61.07. The firm has a market capitalization of $2.05 billion, a PE ratio of 23.75 and a beta of 0.60.

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

IDT Announces Dividend

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

Institutional Trading of IDT

A number of hedge funds have recently made changes to their positions in IDT. Kahn Brothers Group Inc. acquired a new position in IDT in the 2nd quarter valued at approximately $18,292,990,000. Bank of New York Mellon Corp boosted its stake in shares of IDT by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 117,607 shares of the utilities provider’s stock valued at $5,774,000 after buying an additional 1,088 shares during the period. Tidal Investments LLC acquired a new stake in shares of IDT during the 2nd quarter valued at $646,000. Public Employees Retirement System of Ohio acquired a new stake in shares of IDT during the 2nd quarter valued at $596,000. Finally, Entropy Technologies LP acquired a new stake in shares of IDT during the 1st quarter valued at $264,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IDT has been the subject of several recent analyst reports. Weiss Ratings raised IDT from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, October 6th. Zacks Research raised IDT to a “hold” rating in a research report on Monday, October 5th. Finally, Freedom Broker upped their price target on IDT from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, September 30th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, IDT has an average rating of “Moderate Buy” and a consensus target price of $85.00.

About IDT

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.