IDT (NYSE:IDT) EVP Sells $1,020,000.00 in Stock

IDT Corporation (NYSE:IDT) EVP Menachem Ash sold 20,000 shares of the company’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $51.00, for a total value of $1,020,000.00. Following the sale, the executive vice president owned 32,243 shares of the company’s stock, valued at $1,644,393. This trade represents a 38.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

IDT Price Performance

IDT stock traded up $0.49 during midday trading on Thursday, reaching $51.25. The company’s stock had a trading volume of 138,674 shares, compared to its average volume of 151,741. The stock’s 50-day simple moving average is $49.31 and its 200-day simple moving average is $49.92. IDT Corporation has a 52-week low of $45.72 and a 52-week high of $71.12. The stock has a market capitalization of $1.29 billion, a P/E ratio of 15.72 and a beta of 0.70.

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

IDT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 19th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.5%. This is a positive change from IDT’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, March 19th. IDT’s dividend payout ratio is 8.59%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on IDT shares. Wall Street Zen lowered IDT from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of IDT in a report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, IDT presently has an average rating of “Hold”.

Institutional Trading of IDT

Several institutional investors have recently bought and sold shares of IDT. Public Employees Retirement System of Ohio acquired a new stake in IDT in the third quarter valued at approximately $96,000. Gabelli Funds LLC purchased a new position in shares of IDT in the second quarter valued at approximately $239,000. State of Tennessee Department of Treasury purchased a new position in shares of IDT in the fourth quarter valued at approximately $268,000. Ameriprise Financial Inc. purchased a new position in shares of IDT in the third quarter valued at approximately $399,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of IDT by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,156 shares of the utilities provider’s stock valued at $470,000 after acquiring an additional 381 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

About IDT

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.