IDT (NYSE:IDT) EVP Nadine Shea Sells 600 Shares of Company Stock

Key Points

• IDT EVP Nadine Shea sold 600 shares at an average price of $81.22, generating $48,732 and reducing her direct ownership by 7.21% to 7,725 shares.
• IDT shares recently traded at $81.95, near their 52-week high of $83.18, with a $2.04 billion market capitalization and a price-to-earnings ratio of 23.62.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $85.00, while the company’s latest quarterly revenue exceeded estimates but EPS fell slightly short; IDT also pays a $0.07 quarterly dividend.

IDT Corporation (NYSE:IDT - Get Free Report) EVP Nadine Shea sold 600 shares of the company's stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $81.22, for a total value of $48,732.00. Following the transaction, the executive vice president directly owned 7,725 shares of the company's stock, valued at $627,424.50. This trade represents a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

IDT Stock Performance

Shares of IDT stock traded up $1.28 on Monday, reaching $81.95. 318,565 shares of the company were exchanged, compared to its average volume of 193,382. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 23.62 and a beta of 0.60. IDT Corporation has a 1-year low of $46.48 and a 1-year high of $83.18. The company's 50-day moving average is $71.67 and its two-hundred day moving average is $61.54.

IDT (NYSE:IDT - Get Free Report) last released its quarterly earnings data on Monday, September 28th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.98 by ($0.04). IDT had a net margin of 6.67% and a return on equity of 24.22%. The company had revenue of $338.98 million for the quarter, compared to analyst estimates of $319.00 million. As a group, sell-side analysts forecast that IDT Corporation will post 3.86 earnings per share for the current year.

IDT Dividend Announcement

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

Institutional Trading of IDT

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC acquired a new position in shares of IDT during the second quarter valued at approximately $646,000. Integrated Wealth Concepts LLC bought a new stake in IDT during the second quarter worth approximately $25,000. Allworth Financial LP lifted its position in IDT by 531.1% in the second quarter. Allworth Financial LP now owns 568 shares of the utilities provider's stock worth $33,000 after purchasing an additional 478 shares during the period. Nykredit A S acquired a new stake in IDT in the second quarter worth approximately $32,000. Finally, Corient Private Wealth LP bought a new position in IDT during the 2nd quarter valued at $252,000. 59.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Freedom Broker raised their price target on shares of IDT from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Wednesday, September 30th. Zacks Research upgraded IDT to a "hold" rating in a research report on Monday, October 5th. Finally, Weiss Ratings upgraded 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 given a Hold rating to the company. According to data from MarketBeat.com, IDT currently has a consensus rating of "Moderate Buy" and an average price target 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.

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