IDT Co. (NYSE:IDT) Short Interest Update

IDT Co. (NYSE:IDT) was the recipient of a large drop in short interest in September. As of September 15th, there was short interest totalling 193,800 shares, a drop of 5.3% from the August 31st total of 204,600 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average trading volume of 73,400 shares, the short-interest ratio is presently 2.6 days.

Insider Buying and Selling at IDT

In other IDT news, EVP Joyce J. Mason sold 7,570 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $37.25, for a total value of $281,982.50. Following the sale, the executive vice president now owns 12,996 shares of the company’s stock, valued at approximately $484,101. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Eric F. Cosentino sold 800 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $37.24, for a total transaction of $29,792.00. Following the transaction, the director now directly owns 551 shares in the company, valued at approximately $20,519.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Joyce J. Mason sold 7,570 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $37.25, for a total value of $281,982.50. Following the transaction, the executive vice president now owns 12,996 shares in the company, valued at $484,101. The disclosure for this sale can be found here. Insiders own 15.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its stake in shares of IDT by 2.3% in the 1st quarter. BNP Paribas Financial Markets now owns 13,805 shares of the utilities provider’s stock valued at $522,000 after purchasing an additional 309 shares during the period. CWM LLC lifted its stake in shares of IDT by 53.2% in the 2nd quarter. CWM LLC now owns 1,797 shares of the utilities provider’s stock valued at $65,000 after purchasing an additional 624 shares during the period. Principal Financial Group Inc. lifted its stake in shares of IDT by 9.3% in 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 period. Price T Rowe Associates Inc. MD lifted its stake in shares of IDT by 5.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,647 shares of the utilities provider’s stock valued at $479,000 after purchasing an additional 635 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of IDT by 3.4% in the 2nd quarter. Rhumbline Advisers now owns 26,833 shares of the utilities provider’s stock valued at $964,000 after purchasing an additional 891 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

IDT Stock Performance

Shares of IDT stock opened at $37.73 on Wednesday. The firm has a market cap of $956.04 million, a P/E ratio of 26.95 and a beta of 0.79. IDT has a fifty-two week low of $21.64 and a fifty-two week high of $41.58. The business’s 50 day moving average price is $37.43 and its 200-day moving average price is $37.45.

IDT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 30th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, September 30th. IDT’s payout ratio is presently 14.29%.

Analyst Ratings Changes

Separately, StockNews.com upgraded IDT from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 19th.

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.