IDT (NYSE:IDT) EVP Sells $1,020,000.00 in Stock

IDT Corporation (NYSE:IDT) EVP Menachem Ash sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $51.00, for a total transaction of $1,020,000.00. Following the transaction, the executive vice president owned 32,243 shares in the company, valued at $1,644,393. The trade was a 38.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

IDT Trading Up 2.0%

Shares of IDT stock opened at $52.28 on Friday. IDT Corporation has a 1 year low of $45.72 and a 1 year high of $71.12. The firm’s 50 day moving average is $49.44 and its 200-day moving average is $49.83. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 16.04 and a beta of 0.70.

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

IDT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 19th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, March 19th. This is a positive change from IDT’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. IDT’s dividend payout ratio (DPR) is currently 8.59%.

Institutional Investors Weigh In On IDT

Several large investors have recently bought and sold shares of IDT. AQR Capital Management LLC increased its stake in IDT by 40.2% in the first quarter. AQR Capital Management LLC now owns 58,197 shares of the utilities provider’s stock valued at $2,986,000 after purchasing an additional 16,678 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in IDT by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,156 shares of the utilities provider’s stock valued at $470,000 after purchasing an additional 381 shares in the last quarter. 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 purchasing an additional 130,569 shares in the last quarter. Marshall Wace LLP increased its stake in IDT by 1,436.4% in the second 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 in the last quarter. Finally, Gabelli Funds LLC bought a new stake in IDT in the second quarter valued at approximately $239,000. Institutional investors own 59.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IDT. Weiss Ratings restated a “hold (c+)” rating on shares of IDT in a report on Friday, March 27th. Wall Street Zen lowered shares of IDT from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

IDT Company Profile

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.