Insider Selling: IDT Co. (NYSE:IDT) CTO Sells $806,334.76 in 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 transaction of $806,334.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

IDT Stock Performance

NYSE:IDT opened at $47.93 on Friday. The stock has a 50-day simple moving average of $49.35 and a 200 day simple moving average of $41.91. IDT Co. has a 52-week low of $32.08 and a 52-week high of $58.77. The company has a market cap of $1.21 billion, a PE ratio of 16.41 and a beta of 0.78.

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

IDT Cuts Dividend

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

Hedge Funds Weigh In On IDT

A number of large investors have recently modified their holdings of the business. Principal Financial Group Inc. increased its position in shares of IDT by 9.3% in the second quarter. Principal Financial Group Inc. now owns 7,332 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 625 shares during the last quarter. Rhumbline Advisers grew its stake in IDT by 3.4% in the second quarter. Rhumbline Advisers now owns 26,833 shares of the utilities provider’s stock valued at $964,000 after purchasing an additional 891 shares in the last quarter. Martingale Asset Management L P increased its position in shares of IDT by 6.6% during the 3rd quarter. Martingale Asset Management L P now owns 20,396 shares of the utilities provider’s stock worth $779,000 after purchasing an additional 1,264 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of IDT during the 3rd quarter worth approximately $54,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of IDT by 15.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,376 shares of the utilities provider’s stock valued at $434,000 after buying an additional 1,547 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of IDT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 24th.

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.