Insider Selling: IDT (NYSE:IDT) CFO Sells 4,812 Shares of Stock

Key Points

• IDT CFO Marcelo Fischer sold 4,812 shares at an average price of $82.08, generating approximately $394,969 and reducing his direct ownership by 11.41%. He also sold an additional 4,521 shares the following day.
• IDT shares rose 1.6% to $81.95, near their 52-week high of $83.18, while the company reported quarterly revenue above expectations but EPS below consensus.
• Analysts maintain a “Moderate Buy” consensus with an $85 price target. IDT also pays a quarterly dividend of $0.07 per share, equivalent to a 0.3% yield.

IDT Corporation (NYSE:IDT - Get Free Report) CFO Marcelo Fischer sold 4,812 shares of the company's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $82.08, for a total value of $394,968.96. Following the completion of the sale, the chief financial officer directly owned 37,345 shares of the company's stock, valued at approximately $3,065,277.60. This trade represents a 11.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, October 16th, Marcelo Fischer sold 4,521 shares of IDT stock. The shares were sold at an average price of $80.93, for a total transaction of $365,884.53.

IDT Stock Up 1.6%

IDT stock traded up $1.28 during midday trading on Monday, hitting $81.95. 318,565 shares of the stock were exchanged, compared to its average volume of 193,382. The company has a fifty day simple moving average of $71.67 and a two-hundred day simple moving average of $61.54. IDT Corporation has a 52 week low of $46.48 and a 52 week high of $83.18. The stock has a market capitalization of $2.04 billion, a PE ratio of 23.62 and a beta of 0.60.

IDT (NYSE:IDT - Get Free Report) last issued its earnings results on Monday, September 28th. The utilities provider reported $0.94 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.04). IDT had a net margin of 6.67% and a return on equity of 24.22%. The firm had revenue of $338.98 million during the quarter, compared to the consensus estimate of $319.00 million. As a group, equities research analysts anticipate that IDT Corporation will post 3.86 EPS for the current fiscal year.

IDT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Monday, October 5th were issued a dividend of $0.07 per share. The ex-dividend date 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 Ratings Changes

Several brokerages have issued reports on IDT. Freedom Broker increased their price target on IDT from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Wednesday, September 30th. Zacks Research upgraded IDT to a "hold" rating in a report on Monday, October 5th. Finally, Weiss Ratings upgraded IDT from a "hold (c+)" rating to a "buy (b)" rating in a report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, IDT has a consensus rating of "Moderate Buy" and a consensus price target of $85.00.

Hedge Funds Weigh In On IDT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IDT. Kahn Brothers Group Inc. bought a new position in IDT during the 2nd quarter worth about $18,292,990,000. Tidal Investments LLC bought a new stake in shares of IDT in the second quarter valued at about $646,000. Public Employees Retirement System of Ohio bought a new stake in shares of IDT in the second quarter valued at about $596,000. Entropy Technologies LP acquired a new position in shares of IDT during the first quarter worth about $264,000. Finally, Corient Private Wealth LP acquired a new position in shares of IDT during the second quarter worth about $252,000. 59.34% of the stock is owned by institutional investors and hedge funds.

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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