Insider Selling: IDT (NYSE:IDT) CAO Sells $66,122.70 in Stock

IDT Corporation (NYSE:IDT) CAO Mitch Silberman sold 805 shares of the stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $82.14, for a total transaction of $66,122.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Thursday, October 15th, Mitch Silberman sold 2,327 shares of IDT stock. The shares were sold at an average price of $81.03, for a total transaction of $188,556.81.

IDT Trading Down 1.7%

IDT stock opened at $80.81 on Friday. IDT Corporation has a 1 year low of $46.48 and a 1 year high of $83.19. The company has a fifty day simple moving average of $71.67 and a 200 day simple moving average of $61.45. The firm has a market cap of $2.01 billion, a PE ratio of 23.29 and a beta of 0.60.

IDT (NYSE:IDT) last posted its earnings results 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 analyst estimates of $319.00 million. IDT had a return on equity of 24.22% and a net margin of 6.67%. As a group, analysts forecast that IDT Corporation will post 3.86 EPS for the current fiscal year.

IDT Announces Dividend

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

Institutional Trading of IDT

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IDT. Freedom Broker increased their price objective on IDT from $75.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, September 30th. Zacks Research upgraded IDT to a “hold” rating in a report on Monday, October 5th. Finally, Weiss Ratings raised IDT from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Key Stories 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

About IDT

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.