Insider Selling: IDT (NYSE:IDT) CFO Sells $365,884.53 in Stock

IDT Corporation (NYSE:IDT) CFO Marcelo Fischer sold 4,521 shares of the business’s stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $80.93, for a total transaction of $365,884.53. Following the completion of the sale, the chief financial officer owned 35,855 shares in the company, valued at $2,901,745.15. The trade was a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, October 15th, Marcelo Fischer sold 4,812 shares of IDT stock. The shares were sold at an average price of $82.08, for a total transaction of $394,968.96.

IDT Stock Performance

Shares of NYSE:IDT opened at $82.81 on Thursday. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 23.86 and a beta of 0.60. IDT Corporation has a 1-year low of $46.48 and a 1-year high of $84.56. The company has a 50 day moving average price of $72.75 and a 200 day moving average price of $62.26.

IDT (NYSE:IDT) last posted its quarterly earnings results on Monday, September 28th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.04). The business had revenue of $338.98 million during the quarter, compared to analyst estimates of $319.00 million. IDT had a return on equity of 24.22% and a net margin of 6.67%. On average, sell-side analysts expect that IDT Corporation will post 3.86 EPS for the current fiscal year.

IDT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Stockholders of record on Monday, October 5th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, October 5th. This represents a $0.28 annualized dividend and a dividend yield of 0.3%. IDT’s dividend payout ratio (DPR) is currently 8.07%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Kahn Brothers Group Inc. purchased a new position in shares of IDT in the second quarter worth approximately $18,292,990,000. Bank of New York Mellon Corp lifted its position in shares of IDT by 0.9% in 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 acquiring an additional 1,088 shares in the last quarter. Vest Financial LLC lifted its position in shares of IDT by 88.6% in the 3rd quarter. Vest Financial LLC now owns 64,203 shares of the utilities provider’s stock valued at $5,134,000 after acquiring an additional 30,154 shares in the last quarter. Tidal Investments LLC acquired a new position in IDT in the 2nd quarter worth approximately $646,000. Finally, Public Employees Retirement System of Ohio acquired a new position in IDT in the 2nd quarter worth approximately $596,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

About IDT

IDT Corporation (NYSE: IDT) is a communications and financial technology company that provides telecommunications, payment and business services to consumers, small businesses and enterprise customers. Its offerings include international calling, mobile top-up services, money transfers and other digital payment solutions.

Through its BOSS Revolution brand, IDT serves consumers in the United States and other markets with international calling, mobile recharge and money-transfer products.