IDT (NYSE:IDT) Sees Strong Trading Volume Following Dividend Announcement

IDT Co. (NYSE:IDTGet Free Report) saw strong trading volume on Thursday after the company announced a dividend. 50,046 shares were traded during trading, a decline of 32% from the previous session’s volume of 73,230 shares.The stock last traded at $39.25 and had previously closed at $38.84.

The newly announced dividend which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Monday, June 10th. IDT’s dividend payout ratio (DPR) is 14.29%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of IDT from a “buy” rating to a “strong-buy” rating in a research report on Thursday.

Get Our Latest Stock Analysis on IDT

IDT Price Performance

The stock’s fifty day moving average price is $38.13 and its 200 day moving average price is $35.69. The stock has a market capitalization of $959.36 million, a P/E ratio of 26.99 and a beta of 0.97.

IDT (NYSE:IDTGet Free Report) last posted its quarterly earnings results on Wednesday, March 6th. The utilities provider reported $0.59 EPS for the quarter. The firm had revenue of $296.10 million for the quarter. IDT had a net margin of 2.97% and a return on equity of 18.87%.

Insider Transactions at IDT

In other news, CAO Mitch Silberman sold 2,115 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $38.01, for a total value of $80,391.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other IDT news, CAO Mitch Silberman sold 2,115 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $38.01, for a total transaction of $80,391.15. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Bill Pereira sold 15,647 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $37.95, for a total transaction of $593,803.65. Following the transaction, the chief operating officer now owns 49,999 shares in the company, valued at $1,897,462.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,192 shares of company stock worth $690,075. Insiders own 15.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale purchased a new position in IDT during the 3rd quarter worth approximately $75,000. Quantbot Technologies LP grew its stake in shares of IDT by 271.8% during the 3rd quarter. Quantbot Technologies LP now owns 4,603 shares of the utilities provider’s stock worth $101,000 after purchasing an additional 3,365 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of IDT by 58.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,387 shares of the utilities provider’s stock worth $114,000 after purchasing an additional 1,250 shares during the period. SG Americas Securities LLC acquired a new stake in shares of IDT during the 4th quarter worth approximately $115,000. Finally, Barclays PLC grew its stake in shares of IDT by 13.6% during the 3rd quarter. Barclays PLC now owns 7,437 shares of the utilities provider’s stock worth $164,000 after purchasing an additional 889 shares during the period. 59.34% of the stock is currently owned by institutional investors.

IDT Company Profile

(Get Free Report)

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.

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