IDT (NYSE:IDT) CAO Mitch Silberman Sells 2,327 Shares of Company Stock

IDT Corporation (NYSE:IDT) CAO Mitch Silberman sold 2,327 shares of IDT stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $81.03, for a total value of $188,556.81. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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 value of $66,122.70.

IDT Trading Up 1.6%

IDT stock traded up $1.31 during mid-day trading on Thursday, hitting $82.39. The stock had a trading volume of 232,596 shares, compared to its average volume of 192,761. IDT Corporation has a 1-year low of $46.48 and a 1-year high of $82.91. The company has a fifty day moving average of $71.03 and a 200 day moving average of $61.07. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 23.75 and a beta of 0.60.

IDT (NYSE:IDT) last announced its quarterly earnings results on Monday, September 28th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.04). The firm had revenue of $338.98 million for the quarter, compared to analyst estimates of $319.00 million. IDT had a net margin of 6.67% and a return on equity of 24.22%. As a group, sell-side analysts expect that IDT Corporation will post 3.86 earnings per share for the current fiscal year.

IDT Announces Dividend

The firm also recently disclosed 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 (DPR) is presently 8.07%.

Institutional Trading of IDT

Several large investors have recently made changes to their positions in IDT. Kahn Brothers Group Inc. bought a new stake in shares of IDT during the 2nd quarter worth about $20,453,000. Public Employees Retirement System of Ohio bought a new position in shares of IDT in the 2nd quarter valued at approximately $596,000. Tidal Investments LLC bought a new position in shares of IDT in the 2nd quarter valued at approximately $646,000. Integrated Wealth Concepts LLC bought a new position in shares of IDT in the 2nd quarter valued at approximately $25,000. Finally, Allworth Financial LP lifted its holdings in IDT by 531.1% in the 2nd quarter. Allworth Financial LP now owns 568 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 478 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

IDT has been the subject of a number of analyst reports. Zacks Research upgraded shares of IDT to a “hold” rating in a research note on Monday, October 5th. Weiss Ratings upgraded shares of IDT from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, October 6th. Finally, Freedom Broker raised their price target on shares of IDT from $75.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, September 30th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.00.

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.