IDT Corporation (NYSE:IDT) Sees Large Decline in Short Interest

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

Insider Transactions at IDT

In other news, CFO Marcelo Fischer sold 7,009 shares of the firm’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 in the company, valued at $2,958,581.89. This trade represents a 10.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 8,570 shares of company stock worth $446,073. 25.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On IDT

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

Wall Street Analyst Weigh In

IDT has been the subject of a number of research analyst reports. Wall Street Zen upgraded IDT from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of IDT in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

IDT Trading Down 2.4%

IDT stock traded down $1.24 during trading on Monday, reaching $50.08. 143,554 shares of the stock were exchanged, compared to its average volume of 118,944. The firm’s 50 day moving average is $50.82 and its 200 day moving average is $55.55. The firm has a market cap of $1.26 billion, a P/E ratio of 15.55 and a beta of 0.78. IDT has a twelve month low of $45.07 and a twelve month high of $71.12.

IDT (NYSE:IDT) last announced its quarterly earnings data on Thursday, December 4th. The utilities provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. IDT had a return on equity of 27.12% and a net margin of 6.53%.The firm had revenue of $322.75 million during the quarter, compared to analysts’ expectations of $308.00 million.

IDT Dividend Announcement

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

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.