IDT (NYSE:IDT) Stock: Insider Mitch Silberman Sells 2,327 Shares

IDT Corporation (NYSE:IDT) CAO Mitch Silberman sold 2,327 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $81.03, for a total transaction of $188,556.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Mitch Silberman also recently made the following trade(s):

• On Tuesday, October 13th, Mitch Silberman sold 805 shares of IDT stock. The stock was sold at an average price of $82.14, for a total transaction of $66,122.70.

IDT Stock Performance

IDT traded down $1.43 during trading on Friday, hitting $80.81. The stock had a trading volume of 191,554 shares, compared to its average volume of 414,039. The company has a market capitalization of $2.01 billion, a PE ratio of 23.29 and a beta of 0.60. IDT Corporation has a twelve month low of $46.48 and a twelve month high of $83.19. The stock has a 50 day simple moving average of $71.67 and a two-hundred day simple moving average of $61.45.

IDT (NYSE:IDT) last issued its quarterly earnings data on Monday, September 28th. The utilities provider reported $0.94 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.04). The business had revenue of $338.98 million for the quarter, compared to analysts’ expectations of $319.00 million. IDT had a net margin of 6.67% and a return on equity of 24.22%. On average, equities research analysts anticipate that IDT Corporation will post 3.86 EPS for the current year.

IDT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Monday, October 5th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, October 5th. IDT’s dividend payout ratio is currently 8.07%.

Key Headlines Impacting IDT

Here are the key news stories impacting IDT this week:

• Positive Sentiment: Analyst sentiment remains favorable: Freedom Broker raised its price target to $85 and maintained a Buy rating, while Weiss Ratings upgraded IDT to Buy. The stock has a consensus rating of Moderate Buy and an $85 average price target. IDT insider trading and analyst coverage
• Positive Sentiment: Institutional ownership is substantial at approximately 59%, with several investment firms recently establishing positions. IDT also continues to pay a quarterly dividend of $0.07, although its approximately 0.3% yield is modest. IDT institutional ownership and dividend information
• Neutral Sentiment: Norman Wright, a prominent attorney and former IDT chairman, died. The report did not indicate any current management, strategic or financial impact on IDT. Report on Norman Wright
• Negative Sentiment: Director Judah Schorr sold 13,753 shares across October 14–15 for approximately $1.12 million, reducing his direct ownership by roughly 11.6% across the two transactions. SEC filing for Judah Schorr transactions
• Negative Sentiment: Chief Accounting Officer Mitch Silberman sold a combined 3,132 shares on October 13 and 15 for approximately $254,700. Multiple insider sales near recent highs can weigh on investor sentiment, particularly after IDT’s strong run above its 50- and 200-day moving averages. SEC filing for Mitch Silberman transactions

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Freedom Broker raised their price target on IDT from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. Zacks Research upgraded shares of IDT to a “hold” rating in a report on Monday, October 5th. Finally, Weiss Ratings raised shares of IDT from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, October 6th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Institutional Investors Weigh In On IDT

A number of large investors have recently made changes to their positions in the stock. Tidal Investments LLC acquired a new position in shares of IDT in the 2nd quarter valued at $646,000. Integrated Wealth Concepts LLC acquired a new stake in IDT during the 2nd quarter worth about $25,000. Allworth Financial LP grew its stake in IDT by 531.1% during the 2nd quarter. Allworth Financial LP now owns 568 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 478 shares during the last quarter. Nykredit A S purchased a new stake in IDT during the 2nd quarter valued at about $32,000. Finally, Corient Private Wealth LP purchased a new stake in IDT during the 2nd quarter valued at about $252,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

IDT Company Profile

IDT Corporation (NYSE: IDT) is a telecommunications and fintech company founded in 1990 by Howard Jonas. The company began as an international long-distance provider and has expanded into consumer communications, payment services and technology solutions for businesses and independent retailers.

Through its BOSS Revolution brand, IDT offers international calling, prepaid wireless services, mobile airtime and data top-ups, and international money-transfer services. Its communications operations also provide wholesale voice services and related connectivity solutions to carriers and other communications providers in markets worldwide.

IDT’s National Retail Solutions business provides independent retailers with point-of-sale technology, payment processing, business services and related tools.