Nadine Shea Sells 500 Shares of IDT (NYSE:IDT) Stock

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

IDT Trading Down 1.0%

IDT stock opened at $54.94 on Friday. The company has a market capitalization of $1.38 billion, a P/E ratio of 16.80 and a beta of 0.68. The firm’s fifty day simple moving average is $52.34 and its 200-day simple moving average is $50.74. IDT Corporation has a 1-year low of $45.72 and a 1-year high of $71.12.

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

IDT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Tuesday, June 9th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.5%. The ex-dividend date is Tuesday, June 9th. IDT’s dividend payout ratio (DPR) is 8.56%.

Wall Street Analyst Weigh In

IDT has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of IDT from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of IDT in a report on Friday, March 27th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Institutional Trading of IDT

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in IDT by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,156 shares of the utilities provider’s stock worth $470,000 after purchasing an additional 381 shares during the last quarter. Bank of New York Mellon Corp grew its position in 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 worth $5,774,000 after purchasing an additional 1,088 shares during the last quarter. Tudor Investment Corp ET AL grew its position in IDT by 9.1% in the 4th quarter. Tudor Investment Corp ET AL now owns 16,274 shares of the utilities provider’s stock worth $833,000 after purchasing an additional 1,364 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in IDT in the 3rd quarter worth $96,000. Finally, Gabelli Funds LLC acquired a new stake in IDT in the 2nd quarter worth $239,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

IDT Company Profile

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.