IDT (NYSE:IDT) Stock: Insider Menachem Ash Sells 5,000 Shares

Key Points

• Insider sale: EVP Menachem Ash sold 5,000 IDT shares at an average price of $82, generating $410,000. He retained 19,193 shares, reducing his ownership by 20.67%.
• Stock performance: IDT shares rose 1.6% to $81.95 and were near their 52-week high of $83.18. The stock has a $2.04 billion market capitalization and trades at a P/E ratio of 23.62.
• Financial and analyst outlook: Quarterly EPS of $0.94 missed estimates of $0.98, although revenue exceeded expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $85, while the company pays a $0.07 quarterly dividend.

IDT Corporation (NYSE:IDT - Get Free Report) EVP Menachem Ash sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $82.00, for a total value of $410,000.00. Following the completion of the sale, the executive vice president owned 19,193 shares of the company's stock, valued at $1,573,826. This trade represents a 20.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

IDT Stock Up 1.6%

Shares of IDT traded up $1.28 during midday trading on Monday, reaching $81.95. The company had a trading volume of 318,565 shares, compared to its average volume of 193,382. IDT Corporation has a 1-year low of $46.48 and a 1-year high of $83.18. The firm has a 50 day simple moving average of $71.67 and a 200-day simple moving average of $61.54. The stock has a market cap of $2.04 billion, a PE ratio of 23.62 and a beta of 0.60.

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 the consensus estimate of $0.98 by ($0.04). The firm had revenue of $338.98 million for 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%. 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Monday, October 5th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, October 5th. IDT's dividend payout ratio (DPR) is presently 8.07%.

Institutional Trading of IDT

A number of large investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new stake in IDT in the 2nd quarter valued at about $25,000. Nykredit A S purchased a new position in shares of IDT in the 2nd quarter valued at about $32,000. Allworth Financial LP boosted its stake in shares of IDT by 531.1% in the 2nd quarter. Allworth Financial LP now owns 568 shares of the utilities provider's stock valued at $33,000 after buying an additional 478 shares during the period. Corient Private Wealth LP acquired a new position in shares of IDT during the second quarter worth about $252,000. Finally, Entropy Technologies LP acquired a new position in shares of IDT during the first quarter worth about $264,000. Hedge funds and other institutional investors own 59.34% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on IDT shares. Weiss Ratings raised IDT from a "hold (c+)" rating to a "buy (b)" rating in a research note on Tuesday, October 6th. Freedom Broker boosted their price target 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. Finally, Zacks Research raised shares of IDT to a "hold" rating in a research report on Monday, October 5th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $85.00.

IDT Company Profile

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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