IDT (NYSE:IDT) Stock: Insider Judah Schorr Sells 6,036 Shares

Key Points

• Director Judah Schorr sold 6,036 IDT shares at an average price of $81.76, generating approximately $493,503 and reducing his ownership by 4.93%. He also sold 7,717 shares the following day for about $629,476.
• IDT shares fell 1.7% to $80.81, despite trading near their 12-month high of $83.19. The company recently reported quarterly EPS of $0.94, below analyst expectations, while revenue of $338.98 million exceeded estimates.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an $85 price target. IDT also pays a quarterly dividend of $0.07 per share, equivalent to a 0.3% annual yield.

IDT Corporation (NYSE:IDT - Get Free Report) Director Judah Schorr sold 6,036 shares of the business's stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $81.76, for a total transaction of $493,503.36. Following the completion of the sale, the director owned 116,389 shares in the company, valued at $9,515,964.64. The trade was a 4.93% 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.

Judah Schorr also recently made the following trade(s):

• On Thursday, October 15th, Judah Schorr sold 7,717 shares of IDT stock. The stock was sold at an average price of $81.57, for a total transaction of $629,475.69.

IDT Stock Down 1.7%

NYSE:IDT traded down $1.43 during trading hours on Friday, reaching $80.81. 191,554 shares of the company's stock were exchanged, compared to its average volume of 192,754. The company has a market capitalization of $2.01 billion, a P/E ratio of 23.29 and a beta of 0.60. IDT Corporation has a 12 month low of $46.48 and a 12 month high of $83.19. The business's 50-day simple moving average is $71.35 and its two-hundred day simple moving average is $61.31.

IDT (NYSE:IDT - Get Free Report) 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 company had revenue of $338.98 million during the quarter, compared to the consensus estimate of $319.00 million. IDT had a net margin of 6.67% and a return on equity of 24.22%. As a group, sell-side analysts anticipate that IDT Corporation will post 3.86 earnings per share for the current fiscal year.

IDT Dividend Announcement

The business also recently announced 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 of this dividend was Monday, October 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. IDT's payout ratio is 8.07%.

Hedge Funds Weigh In On IDT

Several institutional investors and hedge funds have recently bought and sold shares of IDT. Kahn Brothers Group Inc. purchased a new position in IDT during the 2nd quarter valued at about $18,292,990,000. Tidal Investments LLC purchased a new position in IDT during the second quarter valued at approximately $646,000. Public Employees Retirement System of Ohio purchased a new position in IDT during the second quarter valued at approximately $596,000. Entropy Technologies LP acquired a new position in IDT in the 1st quarter valued at approximately $264,000. Finally, Corient Private Wealth LP acquired a new position in IDT in the 2nd quarter valued at approximately $252,000. Hedge funds and other institutional investors own 59.34% of the company's stock.

Analyst Ratings Changes

IDT has been the subject of several analyst reports. Zacks Research raised IDT to a "hold" rating in a report on Monday, October 5th. Weiss Ratings raised shares of IDT from a "hold (c+)" rating to a "buy (b)" rating in a research note on Tuesday, October 6th. Finally, Freedom Broker boosted their price target on shares of IDT from $75.00 to $85.00 and gave the company a "buy" rating in a 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 a consensus 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.

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