Insider Selling: IDT (NYSE:IDT) CFO Sells $365,884.53 in Stock

Key Points

• IDT CFO Marcelo Fischer sold 4,521 shares at an average price of $80.93, generating $365,884.53; his remaining stake fell 11.2% to 35,855 shares. He also sold 4,812 shares worth $394,968.96 the previous day.
• IDT shares traded at $81.95, near their 52-week high of $83.18, with a $2.04 billion market capitalization. The company’s latest quarterly revenue exceeded estimates, but earnings per share came in below consensus.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an $85 target price. IDT also paid a quarterly dividend of $0.07, equivalent to a 0.3% annualized yield.

IDT Corporation (NYSE:IDT - Get Free Report) CFO Marcelo Fischer sold 4,521 shares of the firm's stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $80.93, for a total value of $365,884.53. Following the completion of the transaction, the chief financial officer owned 35,855 shares in the company, valued at $2,901,745.15. This represents a 11.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Marcelo Fischer also recently made the following trade(s):

• On Thursday, October 15th, Marcelo Fischer sold 4,812 shares of IDT stock. The shares were sold at an average price of $82.08, for a total transaction of $394,968.96.

IDT Stock Performance

NYSE:IDT traded up $1.28 on Monday, hitting $81.95. The stock 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's fifty day simple moving average is $71.67 and its two-hundred day simple moving average is $61.54. The stock has a market cap of $2.04 billion, a P/E ratio of 23.62 and a beta of 0.60.

IDT (NYSE:IDT - Get Free Report) last issued 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 company had revenue of $338.98 million during 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 predict that IDT Corporation will post 3.86 EPS for the current year.

IDT Announces Dividend

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

Analyst Upgrades and Downgrades

IDT has been the topic of a number of research analyst reports. Freedom Broker boosted their target price 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. Weiss Ratings raised shares of IDT from a "hold (c+)" rating to a "buy (b)" rating in a report on Tuesday, October 6th. Finally, Zacks Research raised shares of IDT to a "hold" rating in a report on Monday, October 5th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $85.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kahn Brothers Group Inc. purchased a new stake in IDT in the 2nd quarter worth about $18,292,990,000. Bank of New York Mellon Corp raised its stake in IDT by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 117,607 shares of the utilities provider's stock valued at $5,774,000 after acquiring an additional 1,088 shares during the period. Tidal Investments LLC purchased a new stake in IDT during the second quarter valued at about $646,000. Public Employees Retirement System of Ohio purchased a new stake in IDT during the second quarter valued at about $596,000. Finally, Entropy Technologies LP purchased a new stake in IDT during the first quarter valued at about $264,000. Institutional investors own 59.34% of the company's stock.

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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