Mitch Silberman Sells 2,115 Shares of IDT Co. (NYSE:IDT) Stock

IDT Co. (NYSE:IDT) CAO Mitch Silberman sold 2,115 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $38.01, for a total value of $80,391.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

IDT Stock Performance

Shares of NYSE:IDT traded up $0.53 during midday trading on Thursday, reaching $38.40. The company’s stock had a trading volume of 9,179 shares, compared to its average volume of 74,495. The firm has a market capitalization of $974.98 million, a price-to-earnings ratio of 26.12 and a beta of 0.98. The firm has a 50 day moving average price of $36.24 and a two-hundred day moving average price of $31.49. IDT Co. has a fifty-two week low of $21.64 and a fifty-two week high of $38.68.

IDT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Monday, March 18th. IDT’s dividend payout ratio is 13.79%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in IDT by 30.7% in the 4th quarter. Vanguard Group Inc. now owns 1,216,941 shares of the utilities provider’s stock valued at $41,486,000 after buying an additional 285,681 shares in the last quarter. Bandera Partners LLC increased its position in IDT by 98.7% in the 1st quarter. Bandera Partners LLC now owns 470,000 shares of the utilities provider’s stock valued at $16,022,000 after buying an additional 233,441 shares in the last quarter. FMR LLC increased its position in IDT by 27.9% in the 1st quarter. FMR LLC now owns 726,232 shares of the utilities provider’s stock valued at $24,750,000 after buying an additional 158,521 shares in the last quarter. Millennium Management LLC increased its position in IDT by 701.7% in the 4th quarter. Millennium Management LLC now owns 137,024 shares of the utilities provider’s stock valued at $3,860,000 after buying an additional 119,932 shares in the last quarter. Finally, BlackRock Inc. increased its position in IDT by 8.5% in the 3rd quarter. BlackRock Inc. now owns 1,315,980 shares of the utilities provider’s stock valued at $32,676,000 after buying an additional 102,831 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised IDT from a “hold” rating to a “buy” rating in a research report on Thursday, March 7th.

IDT Company Profile

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.