IDT (NYSE:IDT) CFO Marcelo Fischer Sells 641 Shares of Stock

IDT Corporation (NYSE:IDT) CFO Marcelo Fischer sold 641 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $52.29, for a total transaction of $33,517.89. Following the completion of the transaction, the chief financial officer directly owned 63,872 shares of the company’s stock, valued at approximately $3,339,866.88. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

IDT Price Performance

Shares of IDT stock opened at $51.35 on Tuesday. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 15.95 and a beta of 0.78. The company’s fifty day simple moving average is $50.83 and its two-hundred day simple moving average is $56.19. IDT Corporation has a 1 year low of $45.07 and a 1 year high of $71.12.

IDT (NYSE:IDT) last announced its quarterly earnings results on Thursday, December 4th. The utilities provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.06. IDT had a return on equity of 27.12% and a net margin of 6.53%.The company had revenue of $322.75 million during the quarter, compared to analysts’ expectations of $308.00 million.

IDT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th were given a dividend of $0.06 per share. The ex-dividend date was Monday, December 15th. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. IDT’s dividend payout ratio is currently 7.45%.

Institutional Trading of IDT

A number of hedge funds have recently made changes to their positions in the stock. Millennium Management LLC increased its stake in IDT by 392.6% in the first quarter. Millennium Management LLC now owns 163,830 shares of the utilities provider’s stock valued at $8,406,000 after acquiring an additional 130,569 shares during the last quarter. Marshall Wace LLP increased its position in shares of IDT by 1,436.4% during the 2nd quarter. Marshall Wace LLP now owns 94,674 shares of the utilities provider’s stock valued at $6,468,000 after purchasing an additional 88,512 shares during the last quarter. CSM Advisors LLC purchased a new position in shares of IDT during the 2nd quarter valued at about $5,608,000. Acadian Asset Management LLC lifted its position in IDT by 172.6% in the 1st quarter. Acadian Asset Management LLC now owns 80,974 shares of the utilities provider’s stock worth $4,143,000 after buying an additional 51,274 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in IDT by 310.8% in the second quarter. Lazard Asset Management LLC now owns 53,340 shares of the utilities provider’s stock worth $3,643,000 after buying an additional 40,357 shares in the last quarter. 59.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on IDT. Wall Street Zen raised shares of IDT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 13th. Weiss Ratings restated a “hold (c+)” rating on shares of IDT in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, IDT 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.