IDT Co. (NYSE:IDT) Sees Large Growth in Short Interest

IDT Co. (NYSE:IDT - Get Free Report) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 339,900 shares, a growth of 10.1% from the February 29th total of 308,600 shares. Based on an average trading volume of 74,400 shares, the days-to-cover ratio is currently 4.6 days. Approximately 2.1% of the company's stock are short sold.

IDT Stock Down 2.6 %

NYSE:IDT traded down $0.99 on Tuesday, hitting $37.27. The stock had a trading volume of 85,081 shares, compared to its average volume of 75,693. The stock has a market cap of $946.29 million, a price-to-earnings ratio of 25.70 and a beta of 0.97. The business's 50-day simple moving average is $36.56 and its two-hundred day simple moving average is $31.97. IDT has a 52-week low of $21.64 and a 52-week high of $38.68.

IDT (NYSE:IDT - Get Free Report) last announced its earnings results on Wednesday, March 6th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter. The business had revenue of $296.10 million for the quarter. IDT had a return on equity of 20.18% and a net margin of 3.08%.

IDT Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were given a dividend of $0.05 per share. The ex-dividend date was Monday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. IDT's payout ratio is currently 13.79%.

Analysts Set New Price Targets

Separately, StockNews.com raised IDT from a "hold" rating to a "buy" rating in a research report on Thursday, March 7th.

Insider Activity

In related news, COO Bill Pereira sold 15,647 shares of IDT stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $37.95, for a total value of $593,803.65. Following the completion of the sale, the chief operating officer now directly owns 49,999 shares in the company, valued at approximately $1,897,462.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Mitch Silberman sold 2,115 shares of IDT stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $38.01, for a total value of $80,391.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Bill Pereira sold 15,647 shares of IDT stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $37.95, for a total value of $593,803.65. Following the completion of the sale, the chief operating officer now owns 49,999 shares of the company's stock, valued at $1,897,462.05. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Alliancebernstein L.P. lifted its position in shares of IDT by 1.8% during the 4th quarter. Alliancebernstein L.P. now owns 20,250 shares of the utilities provider's stock valued at $570,000 after buying an additional 350 shares in the last quarter. American International Group Inc. lifted its holdings in IDT by 5.1% in the 4th quarter. American International Group Inc. now owns 7,339 shares of the utilities provider's stock worth $207,000 after purchasing an additional 354 shares in the last quarter. Bank of America Corp DE lifted its holdings in IDT by 1.7% in the 1st quarter. Bank of America Corp DE now owns 26,255 shares of the utilities provider's stock worth $895,000 after purchasing an additional 444 shares in the last quarter. Captrust Financial Advisors lifted its holdings in IDT by 58.3% in the 2nd quarter. Captrust Financial Advisors now owns 1,385 shares of the utilities provider's stock worth $35,000 after purchasing an additional 510 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in IDT by 81.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,204 shares of the utilities provider's stock worth $31,000 after purchasing an additional 539 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

About IDT

IDT Corporation provides communications and payment services in the United States, the United Kingdom, and internationally. It operates through Fintech, National Retail Solutions, net2phone, and Traditional Communications segments. The company operates point of sale, a terminal-based platform which provides independent retailers store management software, electronic payment processing, and other ancillary merchant services; and provides marketers with digital out-of-home advertising and transaction data.