IDT Corporation (NYSE:IDT) Short Interest Update

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of IDT in a research report on Monday, December 29th. Wall Street Zen upgraded IDT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 13th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

IDT Stock Performance

Shares of IDT stock traded down $0.88 during trading hours on Tuesday, reaching $49.16. The company’s stock had a trading volume of 75,518 shares, compared to its average volume of 138,575. IDT has a one year low of $45.07 and a one year high of $71.12. The company’s 50 day simple moving average is $50.82 and its 200 day simple moving average is $55.55. The stock has a market cap of $1.23 billion, a P/E ratio of 15.27 and a beta of 0.78.

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

IDT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, December 15th. IDT’s dividend payout ratio (DPR) is presently 7.45%.

Insider Buying and Selling at IDT

In related news, CFO Marcelo Fischer sold 920 shares of IDT stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $52.04, for a total value of $47,876.80. Following the completion of the sale, the chief financial officer owned 55,943 shares in the company, valued at approximately $2,911,273.72. The trade was a 1.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 8,570 shares of company stock worth $446,073 over the last three months. 25.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Copeland Capital Management LLC raised 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 acquiring an additional 182 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in IDT in the 3rd quarter valued at about $96,000. Gabelli Funds LLC acquired a new position in IDT during the 2nd quarter valued at about $239,000. Ameriprise Financial Inc. acquired a new stake in shares of IDT in the 3rd quarter worth approximately $399,000. Finally, Strs Ohio bought a new position in shares of IDT in the first quarter valued at approximately $441,000. 59.34% of the stock is owned by institutional investors and hedge funds.

About IDT

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.