Insider Selling: IDT Co. (NYSE:IDT) CTO Sells 17,116 Shares of Stock

IDT Co. (NYSE:IDT) CTO David Wartell sold 17,116 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $47.11, for a total value of $806,334.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

IDT Trading Up 0.2 %

IDT stock traded up $0.08 during mid-day trading on Thursday, reaching $47.76. The company’s stock had a trading volume of 3,073 shares, compared to its average volume of 85,703. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 16.36 and a beta of 0.78. IDT Co. has a twelve month low of $32.08 and a twelve month high of $58.77. The business has a 50 day moving average price of $49.32 and a 200-day moving average price of $41.75.

IDT (NYSE:IDT) last released its quarterly earnings data on Tuesday, October 8th. The utilities provider reported $0.51 earnings per share for the quarter. IDT had a net margin of 6.10% and a return on equity of 22.18%. The firm had revenue of $308.83 million for the quarter.

IDT Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 24th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, December 23rd. This represents a yield of 0.42%. IDT’s payout ratio is currently 6.85%.

Institutional Investors Weigh In On IDT

Hedge funds have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System bought a new stake in IDT in the 3rd quarter valued at about $54,000. Point72 Asset Management L.P. raised its holdings in shares of IDT by 176.9% during the second quarter. Point72 Asset Management L.P. now owns 3,600 shares of the utilities provider’s stock valued at $129,000 after buying an additional 2,300 shares during the last quarter. Versor Investments LP bought a new stake in shares of IDT during the third quarter valued at approximately $213,000. XTX Topco Ltd acquired a new position in shares of IDT during the second quarter worth approximately $203,000. Finally, SG Americas Securities LLC bought a new position in IDT in the 3rd quarter worth approximately $265,000. 59.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded IDT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday.

About IDT

IDT Corporation provides communications and payment services in the United States, the United Kingdom, and internationally. It operates through Fintech, National Retail Solutions, net2phone, and Traditional Communications segments. The company operates point of sale, a terminal-based platform which provides independent retailers store management software, electronic payment processing, and other ancillary merchant services; and provides marketers with digital out-of-home advertising and transaction data.