IDT Co. (NYSE:IDT) Short Interest Update

IDT Co. (NYSE:IDT) was the recipient of a large decrease in short interest in 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 daily volume of 73,400 shares, the days-to-cover ratio is currently 2.6 days. Currently, 1.2% of the shares of the company are sold short.

Insider Buying and Selling at IDT

In other IDT news, Director Eric F. Cosentino sold 800 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $37.24, for a total value of $29,792.00. Following the completion of the transaction, the director now owns 551 shares in the company, valued at approximately $20,519.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other IDT news, Director Eric F. Cosentino sold 800 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $37.24, for a total value of $29,792.00. Following the completion of the transaction, the director now owns 551 shares in the company, valued at approximately $20,519.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joyce J. Mason sold 7,570 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $37.25, for a total value of $281,982.50. Following the completion of the transaction, the executive vice president now owns 12,996 shares of the company’s stock, valued at approximately $484,101. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company’s stock.

Institutional Trading of IDT

A number of institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. lifted its holdings in IDT by 176.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,600 shares of the utilities provider’s stock worth $129,000 after purchasing an additional 2,300 shares in the last quarter. AQR Capital Management LLC lifted its holdings in IDT by 11.9% during the 2nd quarter. AQR Capital Management LLC now owns 29,604 shares of the utilities provider’s stock worth $1,063,000 after purchasing an additional 3,140 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in IDT by 34.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 35,178 shares of the utilities provider’s stock worth $1,264,000 after purchasing an additional 9,023 shares in the last quarter. Marshall Wace LLP purchased a new stake in IDT during the 2nd quarter worth about $976,000. Finally, Bank of Montreal Can lifted its holdings in IDT by 19.9% during the 2nd quarter. Bank of Montreal Can now owns 54,307 shares of the utilities provider’s stock worth $2,144,000 after purchasing an additional 9,012 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

IDT Price Performance

Shares of NYSE IDT opened at $37.73 on Wednesday. IDT has a one year low of $21.64 and a one year high of $41.58. The business’s fifty day moving average price is $37.43 and its 200-day moving average price is $37.45. The stock has a market capitalization of $956.04 million, a PE ratio of 26.95 and a beta of 0.79.

IDT Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised 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.