IDT Co. (NYSE:IDT) saw a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 666,600 shares, an increase of 16.6% from the January 15th total of 571,600 shares. Currently, 3.8% of the shares of the stock are sold short. Based on an average trading volume of 111,400 shares, the days-to-cover ratio is presently 6.0 days.
In other news, Director Judah Schorr sold 16,665 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $7.23, for a total value of $120,487.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 30.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. increased its stake in IDT by 185.9% in the fourth quarter. Citigroup Inc. now owns 4,169 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 2,711 shares during the last quarter. Russell Investments Group Ltd. increased its stake in IDT by 43.1% in the third quarter. Russell Investments Group Ltd. now owns 16,233 shares of the utilities provider’s stock valued at $173,000 after purchasing an additional 4,886 shares during the last quarter. Meeder Asset Management Inc. increased its stake in IDT by 777.5% in the fourth quarter. Meeder Asset Management Inc. now owns 17,523 shares of the utilities provider’s stock valued at $127,000 after purchasing an additional 15,526 shares during the last quarter. California Public Employees Retirement System acquired a new position in IDT in the fourth quarter valued at $127,000. Finally, UBS Group AG increased its stake in IDT by 50.1% in the fourth quarter. UBS Group AG now owns 20,353 shares of the utilities provider’s stock valued at $147,000 after purchasing an additional 6,792 shares during the last quarter. Hedge funds and other institutional investors own 41.65% of the company’s stock.
Separately, TheStreet lowered IDT from a “c-” rating to a “d” rating in a research note on Thursday, December 5th.
IDT stock traded up $0.10 during trading on Friday, hitting $8.23. The company’s stock had a trading volume of 30,100 shares, compared to its average volume of 74,010. The stock has a market capitalization of $215.45 million, a price-to-earnings ratio of 51.44 and a beta of 1.15. The stock’s fifty day moving average is $7.48 and its 200 day moving average is $8.03. IDT has a 1-year low of $5.64 and a 1-year high of $11.84. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.94 and a current ratio of 0.94.
IDT (NYSE:IDT) last released its earnings results on Thursday, December 5th. The utilities provider reported $0.07 EPS for the quarter. The firm had revenue of $340.25 million during the quarter. IDT had a return on equity of 19.75% and a net margin of 0.30%.
IDT Corporation operates primarily in the telecommunications and payment industries in the United States and internationally. The company operates in two segments, Telecom & Payment Services, and net2phone-Unified Communications as a Service. The Telecom & Payment Services Services segment offers retail telecommunication products, including international long-distance calling products primarily to foreign-born communities; wholesale international long distance traffic termination services for tier 1 fixed line and mobile network operators, as well as for other service providers; and payment offerings, such as international and domestic airtime top-up, domestic bill payment, and international money transfer services.
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