IDT (NYSE:IDT) Stock: Insider Mitch Silberman Sells 805 Shares

IDT Corporation (NYSE:IDT) CAO Mitch Silberman sold 805 shares of the company’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $82.14, for a total transaction of $66,122.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Mitch Silberman also recently made the following trade(s):

• On Thursday, October 15th, Mitch Silberman sold 2,327 shares of IDT stock. The shares were sold at an average price of $81.03, for a total value of $188,556.81.

IDT Trading Down 1.7%

Shares of NYSE:IDT traded down $1.43 during midday trading on Friday, hitting $80.81. The company had a trading volume of 191,554 shares, compared to its average volume of 414,039. IDT Corporation has a 12 month low of $46.48 and a 12 month high of $83.19. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 23.29 and a beta of 0.60. The firm has a fifty day simple moving average of $71.67 and a 200 day simple moving average of $61.45.

IDT (NYSE:IDT) last announced its quarterly earnings data on Monday, September 28th. The utilities provider reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.04). IDT had a return on equity of 24.22% and a net margin of 6.67%. The company had revenue of $338.98 million for the quarter, compared to analyst estimates of $319.00 million. Equities analysts forecast that IDT Corporation will post 3.86 EPS for the current fiscal year.

IDT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Monday, October 5th were paid a $0.07 dividend. The ex-dividend date of this dividend was Monday, October 5th. This represents a $0.28 annualized dividend and a yield of 0.3%. IDT’s dividend payout ratio is presently 8.07%.

IDT News Roundup

Here are the key news stories impacting IDT this week:

• Positive Sentiment: Analyst sentiment remains favorable: Freedom Broker raised its price target to $85 and maintained a Buy rating, while Weiss Ratings upgraded IDT to Buy. The stock has a consensus rating of Moderate Buy and an $85 average price target. IDT insider trading and analyst coverage
• Positive Sentiment: Institutional ownership is substantial at approximately 59%, with several investment firms recently establishing positions. IDT also continues to pay a quarterly dividend of $0.07, although its approximately 0.3% yield is modest. IDT institutional ownership and dividend information
• Neutral Sentiment: Norman Wright, a prominent attorney and former IDT chairman, died. The report did not indicate any current management, strategic or financial impact on IDT. Report on Norman Wright
• Negative Sentiment: Director Judah Schorr sold 13,753 shares across October 14–15 for approximately $1.12 million, reducing his direct ownership by roughly 11.6% across the two transactions. SEC filing for Judah Schorr transactions
• Negative Sentiment: Chief Accounting Officer Mitch Silberman sold a combined 3,132 shares on October 13 and 15 for approximately $254,700. Multiple insider sales near recent highs can weigh on investor sentiment, particularly after IDT’s strong run above its 50- and 200-day moving averages. SEC filing for Mitch Silberman transactions

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kahn Brothers Group Inc. bought a new stake in shares of IDT in the second quarter worth about $18,292,990,000. Bank of New York Mellon Corp lifted its holdings in shares of IDT by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 117,607 shares of the utilities provider’s stock valued at $5,774,000 after purchasing an additional 1,088 shares in the last quarter. Tidal Investments LLC bought a new position in shares of IDT during the 2nd quarter valued at about $646,000. Public Employees Retirement System of Ohio acquired a new position in shares of IDT in the 2nd quarter valued at approximately $596,000. Finally, Entropy Technologies LP acquired a new position in shares of IDT in the 1st quarter valued at approximately $264,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

About IDT

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.