IDT Corporation (NYSE:IDT) Short Interest Down 30.2% in February

IDT Corporation (NYSE:IDT) was the recipient of a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 326,609 shares, a drop of 30.2% from the February 12th total of 468,086 shares. Currently, 1.7% of the shares of the company are short sold. Based on an average trading volume of 159,825 shares, the short-interest ratio is presently 2.0 days. Based on an average trading volume of 159,825 shares, the short-interest ratio is presently 2.0 days. Currently, 1.7% of the shares of the company are short sold.

IDT Stock Performance

Shares of NYSE IDT traded down $0.98 during midday trading on Monday, reaching $47.75. The company’s stock had a trading volume of 38,358 shares, compared to its average volume of 150,236. The company has a market cap of $1.20 billion, a P/E ratio of 14.61 and a beta of 0.76. The business’s 50 day moving average price is $49.79 and its two-hundred day moving average price is $52.47. IDT has a fifty-two week low of $45.35 and a fifty-two week high of $71.12.

IDT (NYSE:IDT) last issued its quarterly earnings results on Tuesday, March 10th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.10. The business had revenue of $320.52 million for the quarter, compared to the consensus estimate of $302.00 million. IDT had a return on equity of 25.97% and a net margin of 6.49%.

IDT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 19th will be given a $0.07 dividend. The ex-dividend date is Thursday, March 19th. This is an increase from IDT’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. IDT’s dividend payout ratio (DPR) is 7.36%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of IDT in a research note on Monday, December 29th. Wall Street Zen downgraded IDT from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Insider Transactions at IDT

In other news, CFO Marcelo Fischer sold 920 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $52.04, for a total transaction of $47,876.80. Following the completion of the sale, the chief financial officer owned 55,943 shares in the company, valued at $2,911,273.72. The trade was a 1.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 8,570 shares of company stock worth $446,073 in the last three months. Company insiders own 25.41% of the company’s stock.

Institutional Investors Weigh In On IDT

Large investors have recently bought and sold shares of the company. State of Tennessee Department of Treasury bought a new position in IDT in the 4th quarter valued at about $268,000. Tudor Investment Corp ET AL increased its stake in IDT by 9.1% in the fourth quarter. Tudor Investment Corp ET AL now owns 16,274 shares of the utilities provider’s stock valued at $833,000 after acquiring an additional 1,364 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in IDT by 447.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 10,080 shares of the utilities provider’s stock valued at $516,000 after acquiring an additional 8,240 shares during the last quarter. CSM Advisors LLC raised its position in IDT by 107.4% during the fourth quarter. CSM Advisors LLC now owns 103,950 shares of the utilities provider’s stock valued at $5,321,000 after purchasing an additional 53,835 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in IDT by 22.1% during the fourth quarter. Geode Capital Management LLC now owns 559,849 shares of the utilities provider’s stock worth $28,675,000 after purchasing an additional 101,268 shares during the last quarter. 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.