Marcelo Fischer Sells 5,000 Shares of IDT (NYSE:IDT) Stock

Key Points

• CFO Marcelo Fischer sold 5,000 shares of IDT on April 14 at an average price of $50.50 for $252,500, leaving him with 56,147 shares (an 8.18% reduction in his position).
• IDT beat quarterly expectations, reporting $1.00 EPS versus $0.90 consensus and revenue of $320.52 million, with a return on equity of 25.97% and a net margin of 6.49%.
• IDT raised its quarterly dividend to $0.07 (annualized $0.28) for a 0.5% yield and a payout ratio of 8.59%.

IDT Corporation (NYSE:IDT - Get Free Report) CFO Marcelo Fischer sold 5,000 shares of IDT stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $50.50, for a total value of $252,500.00. Following the completion of the sale, the chief financial officer directly owned 56,147 shares in the company, valued at $2,835,423.50. This represents a 8.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

IDT Stock Performance

IDT traded up $0.37 during trading on Thursday, reaching $51.13. The company's stock had a trading volume of 54,859 shares, compared to its average volume of 150,474. IDT Corporation has a 52-week low of $45.72 and a 52-week high of $71.12. The company's fifty day moving average price is $49.31 and its 200-day moving average price is $49.92. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 15.68 and a beta of 0.70.

IDT (NYSE:IDT - Get Free Report) last announced its quarterly earnings data on Tuesday, March 10th. The utilities provider reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.10. IDT had a return on equity of 25.97% and a net margin of 6.49%.The company had revenue of $320.52 million for the quarter, compared to analyst estimates of $302.00 million.

IDT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 19th were issued a $0.07 dividend. The ex-dividend date of this dividend was Thursday, March 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.5%. This is a boost from IDT's previous quarterly dividend of $0.06. IDT's dividend payout ratio is presently 8.59%.

Institutional Trading of IDT

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in shares of IDT in the fourth quarter valued at about $748,000. Strs Ohio lifted its stake in IDT by 5.9% in the 3rd quarter. Strs Ohio now owns 10,700 shares of the utilities provider's stock valued at $560,000 after buying an additional 600 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in IDT by 447.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 10,080 shares of the utilities provider's stock valued at $516,000 after buying an additional 8,240 shares in the last quarter. CSM Advisors LLC lifted its stake in IDT by 107.4% in the 4th quarter. CSM Advisors LLC now owns 103,950 shares of the utilities provider's stock valued at $5,321,000 after buying an additional 53,835 shares in the last quarter. Finally, Ameriprise Financial Inc. purchased a new stake in IDT in the 3rd quarter valued at approximately $399,000. Hedge funds and other institutional investors own 59.34% of the company's stock.

Analyst Upgrades and Downgrades

IDT has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of IDT in a report on Friday, March 27th. Wall Street Zen lowered IDT from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 7th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold".

About IDT

IDT Corporation, founded in 1990 and headquartered in Newark, New Jersey, is a diversified global provider of telecommunications and payment services. The company operates through its primary communications arm, IDT Telecom, and a digital solutions segment that encompasses cross-border money transfers and related fintech offerings. Since its inception, IDT has built an international network infrastructure to support voice and data transmission across more than 200 countries and territories.

Through IDT Telecom, the company offers a suite of voice communication products, including prepaid phone cards, VoIP services, SIP trunking and operator-assisted calling.

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