IDT (NYSE:IDT) CFO Marcelo Fischer Sells 23,323 Shares

IDT Corporation (NYSE:IDT) CFO Marcelo Fischer sold 23,323 shares of IDT stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $56.98, for a total value of $1,328,944.54. Following the completion of the transaction, the chief financial officer owned 32,824 shares in the company, valued at $1,870,311.52. The trade was a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, April 14th, Marcelo Fischer sold 5,000 shares of IDT stock. The shares were sold at an average price of $50.50, for a total value of $252,500.00.

IDT Stock Up 0.6%

IDT opened at $58.28 on Wednesday. The stock’s 50 day moving average price is $53.71 and its two-hundred day moving average price is $51.25. The firm has a market capitalization of $1.45 billion, a P/E ratio of 17.82 and a beta of 0.68. IDT Corporation has a 12-month low of $45.72 and a 12-month high of $71.12.

IDT (NYSE:IDT) last issued its quarterly earnings results on Wednesday, June 3rd. The utilities provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.05. The company had revenue of $315.71 million during the quarter, compared to analyst estimates of $308.00 million. IDT had a return on equity of 24.36% and a net margin of 6.41%.

IDT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Tuesday, June 9th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.5%. The ex-dividend date was Tuesday, June 9th. IDT’s dividend payout ratio (DPR) is currently 8.56%.

Institutional Trading of IDT

Several institutional investors have recently made changes to their positions in IDT. Cooke & Bieler LP acquired a new position in IDT in the fourth quarter worth about $20,030,000. Millennium Management LLC boosted its holdings in IDT by 392.6% during 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. Geode Capital Management LLC grew its stake in shares of IDT by 22.1% in the 4th quarter. Geode Capital Management LLC now owns 559,849 shares of the utilities provider’s stock valued at $28,675,000 after purchasing an additional 101,268 shares during the period. Marshall Wace LLP raised its holdings in shares of IDT by 1,436.4% in the 2nd quarter. Marshall Wace LLP now owns 94,674 shares of the utilities provider’s stock worth $6,468,000 after buying an additional 88,512 shares in the last quarter. Finally, CSM Advisors LLC raised its holdings in shares of IDT by 107.4% in the 4th quarter. CSM Advisors LLC now owns 103,950 shares of the utilities provider’s stock worth $5,321,000 after buying an additional 53,835 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IDT. Weiss Ratings upgraded shares of IDT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. Wall Street Zen cut IDT from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 3rd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, IDT 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.