Nadine Shea Sells 500 Shares of IDT (NYSE:IDT) Stock

IDT Corporation (NYSE:IDT) EVP Nadine Shea sold 500 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $55.32, for a total transaction of $27,660.00. Following the sale, the executive vice president directly owned 8,725 shares of the company’s stock, valued at $482,667. The trade was a 5.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

IDT Stock Up 1.7%

Shares of NYSE IDT opened at $56.02 on Wednesday. The firm has a 50-day simple moving average of $52.09 and a 200-day simple moving average of $50.65. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 17.13 and a beta of 0.68. IDT Corporation has a 52 week low of $45.72 and a 52 week high of $71.12.

IDT (NYSE:IDT) last posted its quarterly earnings results on Wednesday, June 3rd. The utilities provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.05. The firm had revenue of $315.71 million for the quarter, compared to analyst estimates of $308.00 million. IDT had a net margin of 6.41% and a return on equity of 25.07%.

IDT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Tuesday, June 9th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, June 9th. IDT’s dividend payout ratio (DPR) is currently 8.56%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in IDT in the fourth quarter worth approximately $748,000. Cooke & Bieler LP acquired a new position in shares of IDT in the 4th quarter valued at $20,030,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of IDT by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,156 shares of the utilities provider’s stock valued at $470,000 after purchasing an additional 381 shares during the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of IDT by 9.1% during the 4th quarter. Tudor Investment Corp ET AL now owns 16,274 shares of the utilities provider’s stock worth $833,000 after purchasing an additional 1,364 shares during the period. Finally, California State Teachers Retirement System lifted its position in IDT by 27.0% in the third quarter. California State Teachers Retirement System now owns 19,481 shares of the utilities provider’s stock valued at $1,019,000 after buying an additional 4,136 shares during the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on IDT. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of IDT in a research note on Friday, March 27th. Wall Street Zen lowered shares of IDT from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 3rd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

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.