30,154 IDT Corporation $IDT Shares Bought by Vest Financial LLC

Key Points

• Vest Financial increased its IDT position by 88.6% in the third quarter, adding 30,154 shares to own 64,203 shares valued at approximately $5.13 million. Institutional investors and hedge funds collectively own 59.34% of the company.
• IDT shares opened at $82.44, near their 12-month high of $84.56, after reporting quarterly revenue of $338.98 million. Earnings per share of $0.94 fell short of analysts’ $0.98 estimate.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an $85 target price. Meanwhile, company insiders sold 31,818 shares worth roughly $2.60 million during the last quarter.

Vest Financial LLC increased its position in shares of IDT Corporation (NYSE:IDT - Free Report) by 88.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 64,203 shares of the utilities provider's stock after buying an additional 30,154 shares during the quarter. Vest Financial LLC owned about 0.26% of IDT worth $5,134,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Kahn Brothers Group Inc. acquired a new stake in IDT during the second quarter worth $18,292,990,000. Tidal Investments LLC purchased a new position in shares of IDT during the 2nd quarter worth $646,000. Public Employees Retirement System of Ohio purchased a new position in shares of IDT during the 2nd quarter worth $596,000. Entropy Technologies LP acquired a new stake in shares of IDT during the 1st quarter worth about $264,000. Finally, Corient Private Wealth LP acquired a new stake in shares of IDT during the 2nd quarter worth about $252,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at IDT

In other news, EVP Nadine Shea sold 600 shares of the business's stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $81.22, for a total transaction of $48,732.00. Following the completion of the transaction, the executive vice president directly owned 7,725 shares of the company's stock, valued at approximately $627,424.50. The trade was a 7.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Menachem Ash sold 5,000 shares of the business's stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $82.00, for a total value of $410,000.00. Following the transaction, the executive vice president directly owned 19,193 shares of the company's stock, valued at approximately $1,573,826. This represents a 20.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 31,818 shares of company stock worth $2,597,244 over the last quarter. 25.41% of the stock is currently owned by insiders.

IDT Price Performance

Shares of IDT stock opened at $82.44 on Friday. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 23.58 and a beta of 0.60. The business has a 50-day moving average of $73.40 and a 200 day moving average of $62.64. IDT Corporation has a 12 month low of $46.48 and a 12 month high of $84.56.

IDT (NYSE:IDT - Get Free Report) last announced its earnings results on Monday, September 28th. The utilities provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.04). The business had revenue of $338.98 million for the quarter, compared to analysts' expectations of $319.00 million. IDT had a return on equity of 24.22% and a net margin of 6.67%. Equities research analysts anticipate that IDT Corporation will post 3.86 earnings per share for the current year.

IDT Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IDT. Freedom Broker increased their target price on shares of IDT from $75.00 to $85.00 and gave the stock a "buy" rating in a research note on Wednesday, September 30th. Zacks Research raised shares of 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 report on Tuesday, October 6th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $85.00.

IDT Profile

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.

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