IDT Co. (NYSE:IDT) CTO Sells $806,334.76 in Stock

IDT Co. (NYSE:IDT) CTO David Wartell sold 17,116 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $47.11, for a total value of $806,334.76. The sale was disclosed in a filing with the SEC, which is available through this link.

IDT Stock Performance

IDT traded up $0.08 during trading on Thursday, hitting $47.76. 3,073 shares of the stock were exchanged, compared to its average volume of 85,703. The firm has a 50 day simple moving average of $49.32 and a 200 day simple moving average of $41.75. 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 1 year low of $32.08 and a 1 year high of $58.77.

IDT (NYSE:IDT) last posted its earnings results on Tuesday, October 8th. The utilities provider reported $0.51 EPS for the quarter. IDT had a net margin of 6.10% and a return on equity of 22.18%. The business had revenue of $308.83 million for the quarter.

IDT Cuts Dividend

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On IDT

A number of institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System purchased a new position in shares of IDT in the third quarter worth $54,000. Point72 Asset Management L.P. increased its position in shares of IDT by 176.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,600 shares of the utilities provider’s stock valued at $129,000 after acquiring an additional 2,300 shares during the period. XTX Topco Ltd purchased a new position in IDT in the 2nd quarter worth $203,000. Versor Investments LP acquired a new stake in IDT during the 3rd quarter worth about $213,000. Finally, Principal Financial Group Inc. grew its stake in IDT by 9.3% during the 2nd quarter. Principal Financial Group Inc. now owns 7,332 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 625 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

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.