IDT (NYSE:IDT) Director Sells 6,036 Shares of Company Stock

IDT Corporation (NYSE:IDT) Director Judah Schorr sold 6,036 shares of the stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $81.76, for a total value of $493,503.36. Following the sale, the director owned 116,389 shares of the company’s stock, valued at approximately $9,515,964.64. This represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Judah Schorr also recently made the following trade(s):

• On Thursday, October 15th, Judah Schorr sold 7,717 shares of IDT stock. The shares were sold at an average price of $81.57, for a total value of $629,475.69.

IDT Trading Down 1.7%

IDT stock traded down $1.43 during mid-day trading on Friday, hitting $80.81. The stock had a trading volume of 191,554 shares, compared to its average volume of 192,754. IDT Corporation has a 1-year low of $46.48 and a 1-year high of $83.19. The company has a fifty day moving average of $71.35 and a 200 day moving average of $61.31. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 23.29 and a beta of 0.60.

IDT (NYSE:IDT) last announced its quarterly earnings results on Monday, September 28th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.04). The firm had revenue of $338.98 million for 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, sell-side 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. Shareholders of record on Monday, October 5th were paid a $0.07 dividend. The ex-dividend date was Monday, October 5th. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. IDT’s payout ratio is 8.07%.

Institutional Trading of IDT

Several hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new position in shares of IDT during the second quarter worth $25,000. Allworth Financial LP grew its holdings in shares of IDT by 531.1% in the 2nd quarter. Allworth Financial LP now owns 568 shares of the utilities provider’s stock valued at $33,000 after buying an additional 478 shares during the period. Nykredit A S acquired a new position in shares of IDT in the 2nd quarter valued at $32,000. Bank of New York Mellon Corp grew its holdings in shares of IDT by 0.9% in 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. Finally, Corient Private Wealth LP bought a new stake in shares of IDT in the 2nd quarter valued at $252,000. Institutional investors own 59.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on IDT shares. Weiss Ratings raised IDT from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, October 6th. Zacks Research upgraded shares of IDT to a “hold” rating in a research note on Monday, October 5th. Finally, Freedom Broker lifted 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. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently 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.