IDT Co. (NYSE:IDT) Short Interest Update

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

Wall Street Analysts Forecast Growth

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

IDT Trading Down 0.7 %

Shares of NYSE:IDT traded down $0.26 during midday trading on Monday, reaching $38.17. The company had a trading volume of 37,745 shares, compared to its average volume of 76,852. The stock has a market cap of $967.19 million, a P/E ratio of 27.50 and a beta of 0.79. The company’s 50 day moving average price is $37.41 and its 200 day moving average price is $37.45. IDT has a 52-week low of $21.64 and a 52-week high of $41.58.

IDT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.20 annualized dividend and a dividend yield of 0.52%. IDT’s payout ratio is currently 14.29%.

Insider Buying and Selling

In related news, EVP Joyce J. Mason sold 7,570 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $37.25, for a total transaction of $281,982.50. Following the completion of the sale, the executive vice president now owns 12,996 shares in the company, valued at $484,101. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Joyce J. Mason sold 7,570 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $37.25, for a total transaction of $281,982.50. Following the transaction, the executive vice president now directly owns 12,996 shares of the company’s stock, valued at $484,101. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric F. Cosentino sold 800 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $37.24, for a total transaction of $29,792.00. Following the completion of the sale, the director now directly owns 551 shares of the company’s stock, valued at $20,519.24. The disclosure for this sale can be found here. Insiders have sold 8,870 shares of company stock worth $329,880 in the last quarter. Insiders own 15.00% of the company’s stock.

Institutional Investors Weigh In On IDT

A number of hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its holdings in IDT by 40.3% during the first quarter. Russell Investments Group Ltd. now owns 133,195 shares of the utilities provider’s stock valued at $5,036,000 after purchasing an additional 38,290 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in IDT in the 1st quarter worth approximately $23,276,000. State Board of Administration of Florida Retirement System grew its stake in IDT by 28.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 26,642 shares of the utilities provider’s stock valued at $1,007,000 after buying an additional 5,842 shares in the last quarter. Ritholtz Wealth Management bought a new stake in IDT during the 2nd quarter valued at $537,000. Finally, Campbell & CO Investment Adviser LLC lifted its position in shares of IDT by 28.6% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 53,367 shares of the utilities provider’s stock worth $1,819,000 after acquiring an additional 11,875 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

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.