Vest Financial LLC Purchases 30,154 Shares of IDT Corporation $IDT

Vest Financial LLC lifted its position in shares of IDT Corporation (NYSE:IDT) by 88.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,203 shares of the utilities provider’s stock after purchasing an additional 30,154 shares during the period. Vest Financial LLC’s holdings in IDT were worth $5,134,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Kahn Brothers Group Inc. acquired a new position in shares of IDT during the second quarter worth $18,292,990,000. Tidal Investments LLC purchased a new position in IDT in the second quarter valued at $646,000. Public Employees Retirement System of Ohio purchased a new position in IDT in the second quarter valued at $596,000. Entropy Technologies LP acquired a new stake in IDT in the first quarter valued at $264,000. Finally, Corient Private Wealth LP acquired a new stake in IDT in the second quarter valued at $252,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at IDT

In other IDT news, Director Judah Schorr sold 7,717 shares of IDT stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $81.57, for a total transaction of $629,475.69. Following the transaction, the director owned 108,672 shares of the company’s stock, valued at $8,864,375.04. The trade was a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Mitch Silberman sold 2,327 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $81.03, for a total value of $188,556.81. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 31,818 shares of company stock valued at $2,597,244 over the last 90 days. 25.41% of the stock is owned by insiders.

IDT Price Performance

NYSE IDT opened at $82.44 on Friday. IDT Corporation has a 1 year low of $46.48 and a 1 year high of $84.56. The company has a market capitalization of $2.05 billion, a PE ratio of 23.58 and a beta of 0.60. The company has a fifty day moving average of $73.40 and a two-hundred day moving average of $62.64.

IDT (NYSE:IDT) last posted its earnings results on Monday, September 28th. The utilities provider reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.04). IDT had a return on equity of 24.22% and a net margin of 6.67%. The firm had revenue of $338.98 million for the quarter, compared to analyst estimates of $319.00 million. On average, research analysts expect that IDT Corporation will post 3.86 earnings per share for the current year.

IDT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Monday, October 5th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, October 5th. IDT’s dividend payout ratio (DPR) is currently 8.07%.

Analyst Ratings Changes

A number of analysts have issued reports on IDT shares. Freedom Broker lifted their price target on IDT from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. Zacks Research upgraded IDT to a “hold” rating in a report on Monday, October 5th. Finally, Weiss Ratings upgraded IDT from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, October 6th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

About IDT

IDT Corporation (NYSE: IDT) is a communications and financial technology company that provides telecommunications, payment and business services to consumers, small businesses and enterprise customers. Its offerings include international calling, mobile top-up services, money transfers and other digital payment solutions.

Through its BOSS Revolution brand, IDT serves consumers in the United States and other markets with international calling, mobile recharge and money-transfer products.