IDT Corporation (NYSE:IDT) Short Interest Update

IDT Corporation (NYSE:IDT) saw a large drop in short interest in December. As of December 31st, there was short interest totaling 266,018 shares, a drop of 22.3% from the December 15th total of 342,154 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 246,559 shares, the short-interest ratio is presently 1.1 days. Based on an average daily volume of 246,559 shares, the short-interest ratio is presently 1.1 days. Currently, 1.4% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

IDT has been the subject of a number of recent research reports. Wall Street Zen upgraded 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 report on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, IDT presently has a consensus rating of “Hold”.

Key Stories Impacting IDT

Here are the key news stories impacting IDT this week:

• Neutral Sentiment: One linked press item references Integrated DNA Technologies (a different “IDT”) expanding its product portfolio; this appears unrelated to NYSE:IDT but could cause occasional headline confusion. Integrated DNA Technologies Expands Synthetic Biology Portfolio
• Negative Sentiment: CEO Tebogo Malaka resigned amid allegations tied to a bribery sting and pending disciplinary action; coverage cites fallout from a R836 million oxygen-plant project and notes public officials welcoming the resignation. A CEO departure under investigation raises short-term operational and reputational risk and increases governance uncertainty for investors. Suspended IDT CEO Tebogo Malaka resigns following bribery scandal
• Negative Sentiment: Chief Financial Officer Marcelo Fischer executed two recent stock sales (7,009 shares on Jan 14 at ~$52.03 and 920 shares on Jan 15 at ~$52.04). Combined, these filings show a meaningful reduction in his direct holding (reported up to ~10.97% decrease then a further ~1.62% decrease), which markets often interpret as a negative signal on near-term insider conviction despite his remaining sizable stake. The SEC filing with the transaction details is available here: SEC ownership filing

IDT Stock Down 2.4%

IDT traded down $1.24 on Friday, reaching $50.08. The company had a trading volume of 143,554 shares, compared to its average volume of 169,876. IDT has a 1 year low of $45.07 and a 1 year high of $71.12. The stock has a market capitalization of $1.26 billion, a PE ratio of 15.55 and a beta of 0.78. The stock has a 50-day moving average price of $50.85 and a 200-day moving average price of $55.79.

IDT (NYSE:IDT) last posted its 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. The business had revenue of $322.75 million during the quarter, compared to the consensus estimate of $308.00 million. IDT had a return on equity of 27.12% and a net margin of 6.53%.

IDT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, December 15th. IDT’s dividend payout ratio is presently 7.45%.

Insider Activity

In other news, CFO Marcelo Fischer sold 7,009 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $52.03, for a total transaction of $364,678.27. Following the completion of the transaction, the chief financial officer directly owned 56,863 shares of the company’s stock, valued at approximately $2,958,581.89. The trade was a 10.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 8,570 shares of company stock valued at $446,073. Company insiders own 25.41% of the company’s stock.

Institutional Trading of IDT

A number of large investors have recently bought and sold shares of IDT. Copeland Capital Management LLC grew its position in IDT by 16.3% during the 2nd quarter. Copeland Capital Management LLC now owns 1,298 shares of the utilities provider’s stock worth $89,000 after purchasing an additional 182 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of IDT during the third quarter worth about $96,000. Gabelli Funds LLC purchased a new position in shares of IDT during the second quarter worth about $239,000. Ameriprise Financial Inc. acquired a new position in IDT in the 3rd quarter valued at about $399,000. Finally, Strs Ohio purchased a new stake in IDT during the 1st quarter valued at approximately $441,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.