IDT Co. (NYSE:IDT) CTO Sells $525,907.65 in Stock

IDT Co. (NYSE:IDT) CTO David Wartell sold 10,735 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $48.99, for a total value of $525,907.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

David Wartell also recently made the following trade(s):

• On Monday, December 23rd, David Wartell sold 17,116 shares of IDT stock. The shares were sold at an average price of $47.11, for a total value of $806,334.76.

IDT Stock Performance

NYSE:IDT opened at $50.90 on Friday. The stock has a 50-day simple moving average of $48.19 and a 200 day simple moving average of $46.58. IDT Co. has a one year low of $33.84 and a one year high of $58.77. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 17.43 and a beta of 0.84.

IDT (NYSE:IDT) last announced its earnings results on Thursday, March 6th. The utilities provider reported $0.81 EPS for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%. The firm had revenue of $303.35 million for the quarter.

IDT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.06 per share. This is an increase from IDT’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, March 17th. IDT’s payout ratio is 7.62%.

Hedge Funds Weigh In On IDT

Institutional investors and hedge funds have recently modified their holdings of the stock. Park Square Financial Group LLC purchased a new position in shares of IDT during the 4th quarter valued at $44,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in IDT by 35.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider’s stock worth $116,000 after acquiring an additional 632 shares during the last quarter. Quantbot Technologies LP acquired a new position in IDT during the 4th quarter worth $129,000. New Age Alpha Advisors LLC acquired a new position in shares of IDT during the fourth quarter valued at about $134,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of IDT during the fourth quarter valued at about $180,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised IDT from a “buy” rating to a “strong-buy” rating in a research report on Tuesday.

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.