IDT (NYSE:IDT) CAO Mitch Silberman Sells 2,327 Shares of Company Stock

IDT Corporation (NYSE:IDT) CAO Mitch Silberman sold 2,327 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were 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 SEC, which is accessible through the SEC website.

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

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

IDT Price Performance

IDT opened at $82.39 on Friday. The stock’s 50 day simple moving average is $71.35 and its 200 day simple moving average is $61.31. IDT Corporation has a 1 year low of $46.48 and a 1 year high of $82.91. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 23.75 and a beta of 0.60.

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

IDT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Monday, October 5th were given 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 presently 8.07%.

Hedge Funds Weigh In On IDT

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new position in shares of IDT during the 2nd quarter worth approximately $25,000. Nykredit A S bought a new position in IDT in the second quarter worth $32,000. Allworth Financial LP lifted its position in IDT by 531.1% during the second 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. Corient Private Wealth LP purchased a new position in IDT during the second quarter valued at $252,000. Finally, Entropy Technologies LP bought a new stake in shares of IDT during the 1st quarter valued at $264,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Analysts Set New Price Targets

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