IDT (NYSE:IDT) Stock Price Down 3.5% After Insider Selling

Posted by Defense World Staff on Apr 7th, 2023

IDT Co. (NYSE:IDT – Get Rating)’s share price dropped 3.5% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $32.19 and last traded at $32.28. Approximately 41,452 shares changed hands during trading, a decline of 52% from the average daily volume of 86,740 shares. The stock had previously closed at $33.45.

Specifically, EVP Nadine Shea sold 1,296 shares of the company’s stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $33.78, for a total value of $43,778.88. Following the completion of the transaction, the executive vice president now directly owns 6,275 shares in the company, valued at $211,969.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Nadine Shea sold 1,296 shares of the company’s stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $33.78, for a total value of $43,778.88. Following the completion of the transaction, the executive vice president now directly owns 6,275 shares in the company, valued at $211,969.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric F. Cosentino sold 1,100 shares of the company’s stock in a transaction on Tuesday, April 4th. The shares were sold at an average price of $34.17, for a total value of $37,587.00. Following the completion of the transaction, the director now owns 705 shares of the company’s stock, valued at $24,089.85. The disclosure for this sale can be found here. Company insiders own 14.80% of the company’s stock.

Wall Street Analyst Weigh In

IDT has been the subject of several research analyst reports. TheStreet upgraded IDT from a “c+” rating to a “b-” rating in a research note on Wednesday, February 15th. StockNews.com initiated coverage on IDT in a research note on Thursday, March 16th. They set a “buy” rating for the company.

IDT Stock Down 1.4 %

The firm has a market cap of $841.98 million, a price-to-earnings ratio of 17.92 and a beta of 1.05. The business has a 50 day moving average price of $31.99 and a 200-day moving average price of $28.62.

Institutional Investors Weigh In On IDT

Large investors have recently modified their holdings of the stock. Captrust Financial Advisors grew its stake in shares of IDT by 58.3% in the second quarter. Captrust Financial Advisors now owns 1,385 shares of the utilities provider’s stock valued at $35,000 after buying an additional 510 shares in the last quarter. Barclays PLC boosted its holdings in IDT by 44.1% in the third quarter. Barclays PLC now owns 2,881 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 882 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in IDT by 60.1% in the third quarter. Lazard Asset Management LLC now owns 3,455 shares of the utilities provider’s stock valued at $85,000 after purchasing an additional 1,297 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in IDT by 113.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,902 shares of the utilities provider’s stock valued at $123,000 after purchasing an additional 2,603 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in IDT by 11.2% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,553 shares of the utilities provider’s stock valued at $163,000 after purchasing an additional 658 shares during the last quarter. Institutional investors and hedge funds own 42.94% of the company’s stock.

About IDT

(Get Rating)

IDT Corp. operates as a holding company. The firm engages in the distribution and market of communications and payment services. It operates through the following segments: Fintech, net2phone-UCaaS and Traditional Communications. The Fintech segment offers money transfer services. The net2phone-UCaaS segment comprises cloud-based PBX services offered to enterprise customers mainly through value-added resellers, service providers, telecom agents and managed service providers, SIP trunking, which supports inbound and outbound domestic and international calling from an IP PBX and cable telephony.