Insider Selling: IDT (NYSE:IDT) CAO Sells $66,122.70 in Stock

Key Points

• IDT CAO Mitch Silberman sold shares in two transactions: 805 shares for $66,122.70 at $82.14 each, followed by 2,327 shares at $81.03 each.
• IDT shares traded near their 12-month high at $82.39, with a $2.05 billion market capitalization. The company’s latest quarterly earnings of $0.94 per share missed estimates, although revenue of $338.98 million exceeded expectations.
• IDT paid a quarterly dividend of $0.07 per share and has a consensus analyst rating of “Moderate Buy”, with an average price target of $85.

IDT Corporation (NYSE:IDT - Get Free Report) CAO Mitch Silberman sold 805 shares of the business's stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $82.14, for a total transaction of $66,122.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Mitch Silberman also recently made the following trade(s):

• On Thursday, October 15th, Mitch Silberman sold 2,327 shares of IDT stock. The shares were sold at an average price of $81.03, for a total transaction of $188,556.81.

IDT Stock Performance

NYSE:IDT traded up $1.31 during mid-day trading on Thursday, hitting $82.39. The stock had a trading volume of 232,596 shares, compared to its average volume of 192,761. IDT Corporation has a twelve month low of $46.48 and a twelve month high of $82.91. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 23.75 and a beta of 0.60. The company's 50 day simple moving average is $71.03 and its 200 day simple moving average is $61.07.

IDT (NYSE:IDT - Get Free Report) last announced its quarterly earnings results on Monday, September 28th. The utilities provider reported $0.94 earnings per share for the quarter, missing analysts' consensus estimates of $0.98 by ($0.04). The business 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, equities analysts forecast that IDT Corporation will post 3.86 earnings per share for the current year.

IDT Announces Dividend

The firm also recently announced 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. This represents a $0.28 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, October 5th. IDT's payout ratio is currently 8.07%.

Institutional Trading of IDT

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC acquired a new position in shares of IDT in the second quarter valued at approximately $646,000. Integrated Wealth Concepts LLC bought a new stake in IDT during the second quarter valued at $25,000. Allworth Financial LP grew its stake in IDT by 531.1% during 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 bought a new stake in shares of IDT in the 2nd quarter valued at $32,000. Finally, Corient Private Wealth LP bought a new stake in IDT in the second quarter valued at $252,000. Institutional investors own 59.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IDT shares. Weiss Ratings upgraded IDT from a "hold (c+)" rating to a "buy (b)" rating in a research note on Tuesday, October 6th. Freedom Broker raised their price target on IDT from $75.00 to $85.00 and gave the company a "buy" rating in a report on Wednesday, September 30th. Finally, Zacks Research raised shares of IDT to a "hold" rating in a research report on Monday, October 5th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock 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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