IDT (NYSE:IDT) EVP Menachem Ash Sells 5,000 Shares of Company Stock

IDT Corporation (NYSE:IDT) EVP Menachem Ash sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $82.00, for a total transaction of $410,000.00. Following the transaction, the executive vice president owned 19,193 shares of the company’s stock, valued at $1,573,826. This trade represents a 20.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

IDT Price Performance

Shares of IDT traded up $1.28 during midday trading on Monday, reaching $81.95. The stock had a trading volume of 318,565 shares, compared to its average volume of 193,382. The company’s fifty day simple moving average is $71.67 and its two-hundred day simple moving average is $61.54. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 23.62 and a beta of 0.60. IDT Corporation has a 1-year low of $46.48 and a 1-year high of $83.18.

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

IDT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders 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 annualized dividend and a dividend yield of 0.3%. IDT’s dividend payout ratio (DPR) is presently 8.07%.

Hedge Funds Weigh In On IDT

A number of institutional investors have recently modified their holdings of IDT. Tidal Investments LLC purchased a new stake in IDT in the 2nd quarter valued at $646,000. Integrated Wealth Concepts LLC acquired a new stake in IDT during the 2nd quarter worth $25,000. Allworth Financial LP boosted its stake in IDT by 531.1% during the 2nd quarter. Allworth Financial LP now owns 568 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 478 shares during the period. Nykredit A S acquired a new stake in IDT during the 2nd quarter worth $32,000. Finally, Corient Private Wealth LP purchased a new position in IDT during the 2nd quarter worth $252,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

IDT Company Profile

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.