Short Interest in IDT Co. (NYSE:IDT) Drops By 48.5%

IDT Co. (NYSE:IDT) saw a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 143,100 shares, a decrease of 48.5% from the May 30th total of 277,600 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily volume of 125,600 shares, the short-interest ratio is currently 1.1 days.

In other news, EVP Joyce J. Mason sold 3,606 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $6.94, for a total transaction of $25,025.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 22.50% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in IDT. Royce & Associates LP boosted its holdings in IDT by 798.8% in the fourth quarter. Royce & Associates LP now owns 50,879 shares of the utilities provider’s stock valued at $315,000 after acquiring an additional 45,218 shares during the last quarter. Northern Trust Corp boosted its holdings in IDT by 2.4% in the fourth quarter. Northern Trust Corp now owns 65,885 shares of the utilities provider’s stock valued at $408,000 after acquiring an additional 1,535 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in IDT by 202.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 199,849 shares of the utilities provider’s stock valued at $1,237,000 after acquiring an additional 133,673 shares during the last quarter. Geode Capital Management LLC boosted its holdings in IDT by 16.8% in the fourth quarter. Geode Capital Management LLC now owns 158,968 shares of the utilities provider’s stock valued at $984,000 after acquiring an additional 22,903 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in IDT by 27.6% in the fourth quarter. Two Sigma Advisers LP now owns 53,494 shares of the utilities provider’s stock valued at $331,000 after acquiring an additional 11,568 shares during the last quarter. Institutional investors own 37.86% of the company’s stock.

Shares of IDT stock traded down $0.45 during trading hours on Friday, hitting $11.26. 196,264 shares of the company’s stock were exchanged, compared to its average volume of 252,213. The company has a 50-day moving average price of $8.58. The firm has a market cap of $295.91 million, a PE ratio of 21.68 and a beta of 1.06. IDT has a 52 week low of $4.82 and a 52 week high of $11.75.

IDT Company Profile

IDT Corporation operates primarily in the telecommunications and payment industries in the United States and internationally. The company operates in two segments, Telecom & Payment Services, and net2phone-Unified Communications as a Service. The Telecom & Payment Services Services segment offers retail telecommunication products, including international long-distance calling products primarily to foreign-born communities; wholesale international long distance traffic termination services for tier 1 fixed line and mobile network operators, as well as for other service providers; and payment offerings, such as international and domestic airtime top-up, domestic bill payment, and international money transfer services.

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