Insider Selling: IDT (NYSE:IDT) CFO Sells 4,521 Shares of Company Stock

IDT Corporation (NYSE:IDT) CFO Marcelo Fischer sold 4,521 shares of the company’s stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $80.93, for a total transaction of $365,884.53. Following the sale, the chief financial officer owned 35,855 shares in the company, valued at $2,901,745.15. The trade was a 11.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Marcelo Fischer also recently made the following trade(s):

• On Thursday, October 15th, Marcelo Fischer sold 4,812 shares of IDT stock. The stock was sold at an average price of $82.08, for a total transaction of $394,968.96.

IDT Stock Performance

IDT stock traded up $1.28 during mid-day trading on Monday, reaching $81.95. The company’s stock had a trading volume of 318,565 shares, compared to its average volume of 193,382. 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 P/E ratio of 23.62 and a beta of 0.60. The firm’s fifty day moving average price is $71.67 and its two-hundred day moving average price is $61.54.

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

IDT Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Weiss Ratings raised IDT from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, October 6th. 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. Finally, Zacks Research raised shares of IDT to a “hold” rating in a report on Monday, October 5th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.00.

Institutional Investors Weigh In On IDT

Large investors have recently added to or reduced their stakes in the business. Kahn Brothers Group Inc. purchased a new position in IDT during the second quarter worth about $20,453,000. Public Employees Retirement System of Ohio purchased a new stake in shares of IDT in the 2nd quarter valued at about $596,000. Tidal Investments LLC purchased a new stake in shares of IDT in the 2nd quarter valued at about $646,000. Integrated Wealth Concepts LLC purchased a new stake in shares of IDT in the 2nd quarter valued at about $25,000. Finally, Allworth Financial LP boosted its position in shares of IDT by 531.1% during the 2nd quarter. Allworth Financial LP now owns 568 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 478 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

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.