Insider Selling: IDT (NYSE:IDT) CFO Sells $1,328,944.54 in Stock

IDT Corporation (NYSE:IDT) CFO Marcelo Fischer sold 23,323 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $56.98, for a total transaction of $1,328,944.54. Following the transaction, the chief financial officer directly owned 32,824 shares in the company, valued at $1,870,311.52. The trade was a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Marcelo Fischer also recently made the following trade(s):

• On Tuesday, April 14th, Marcelo Fischer sold 5,000 shares of IDT stock. The shares were sold at an average price of $50.50, for a total transaction of $252,500.00.

IDT Stock Performance

NYSE:IDT traded up $0.33 on Tuesday, hitting $58.28. The stock had a trading volume of 139,898 shares, compared to its average volume of 162,311. IDT Corporation has a 1 year low of $45.72 and a 1 year high of $71.12. The firm’s fifty day simple moving average is $53.59 and its two-hundred day simple moving average is $51.19. The stock has a market cap of $1.45 billion, a P/E ratio of 17.82 and a beta of 0.68.

IDT (NYSE:IDT) last announced its 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 the consensus estimate of $308.00 million. IDT had a return on equity of 24.36% and a net margin of 6.41%.

IDT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Tuesday, June 9th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Tuesday, June 9th. IDT’s dividend payout ratio is 8.56%.

Institutional Investors Weigh In On IDT

Institutional investors have recently added to or reduced their stakes in the business. Cooke & Bieler LP purchased a new position in shares of IDT in the fourth quarter worth about $20,030,000. Millennium Management LLC lifted its stake in shares of IDT by 392.6% during the 1st quarter. Millennium Management LLC now owns 163,830 shares of the utilities provider’s stock valued at $8,406,000 after buying an additional 130,569 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of IDT by 22.1% during the 4th quarter. Geode Capital Management LLC now owns 559,849 shares of the utilities provider’s stock valued at $28,675,000 after buying an additional 101,268 shares in the last quarter. Marshall Wace LLP boosted its holdings in IDT by 1,436.4% in the 2nd quarter. Marshall Wace LLP now owns 94,674 shares of the utilities provider’s stock worth $6,468,000 after buying an additional 88,512 shares during the period. Finally, CSM Advisors LLC boosted its holdings in IDT by 107.4% in the 4th quarter. CSM Advisors LLC now owns 103,950 shares of the utilities provider’s stock worth $5,321,000 after buying an additional 53,835 shares during the period. 59.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on IDT shares. Wall Street Zen downgraded shares of IDT from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 3rd. Weiss Ratings upgraded IDT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently 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.