IDT Corporation (NYSE:IDT) Sees Significant Drop in Short Interest

by · The Cerbat Gem

IDT Corporation (NYSE:IDT – Get Free Report) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 266,018 shares, a decline of 22.3% from the December 15th total of 342,154 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average trading volume of 246,559 shares, the short-interest ratio is currently 1.1 days. Based on an average trading volume of 246,559 shares, the short-interest ratio is currently 1.1 days. Currently, 1.4% of the shares of the stock are sold short.

Insider Activity at IDT

In related news, CFO Marcelo Fischer sold 920 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $52.04, for a total value of $47,876.80. Following the completion of the transaction, the chief financial officer directly owned 55,943 shares of the company’s stock, valued at approximately $2,911,273.72. This represents a 1.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 8,570 shares of company stock worth $446,073 in the last three months. 25.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IDT. AQR Capital Management LLC lifted its holdings in IDT by 40.2% during the 1st quarter. AQR Capital Management LLC now owns 58,197 shares of the utilities provider’s stock worth $2,986,000 after buying an additional 16,678 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of IDT by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,156 shares of the utilities provider’s stock worth $470,000 after acquiring an additional 381 shares during the period. Millennium Management LLC increased its position in shares of IDT by 392.6% during the first quarter. Millennium Management LLC now owns 163,830 shares of the utilities provider’s stock worth $8,406,000 after acquiring an additional 130,569 shares during the period. Strs Ohio acquired a new stake in shares of IDT in the first quarter valued at $441,000. Finally, Rhumbline Advisers boosted its holdings in IDT by 1.2% in the first quarter. Rhumbline Advisers now owns 26,240 shares of the utilities provider’s stock valued at $1,346,000 after purchasing an additional 320 shares during the period. Institutional investors and hedge funds own 59.34% of the company’s stock.

IDT News Roundup

Here are the key news stories impacting IDT this week:

  • Neutral Sentiment: One linked press item references Integrated DNA Technologies (a different “IDT”) expanding its product portfolio; this appears unrelated to NYSE:IDT but could cause occasional headline confusion. Integrated DNA Technologies Expands Synthetic Biology Portfolio
  • Negative Sentiment: CEO Tebogo Malaka resigned amid allegations tied to a bribery sting and pending disciplinary action; coverage cites fallout from a R836 million oxygen-plant project and notes public officials welcoming the resignation. A CEO departure under investigation raises short-term operational and reputational risk and increases governance uncertainty for investors. Suspended IDT CEO Tebogo Malaka resigns following bribery scandal
  • Negative Sentiment: Chief Financial Officer Marcelo Fischer executed two recent stock sales (7,009 shares on Jan 14 at ~$52.03 and 920 shares on Jan 15 at ~$52.04). Combined, these filings show a meaningful reduction in his direct holding (reported up to ~10.97% decrease then a further ~1.62% decrease), which markets often interpret as a negative signal on near-term insider conviction despite his remaining sizable stake. The SEC filing with the transaction details is available here: SEC ownership filing

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IDT. Wall Street Zen upgraded shares of IDT from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of IDT in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Check Out Our Latest Analysis on IDT

IDT Stock Performance

Shares of IDT stock traded down $1.24 during trading hours on Friday, hitting $50.08. The company’s stock had a trading volume of 143,554 shares, compared to its average volume of 169,876. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 15.55 and a beta of 0.78. IDT has a twelve month low of $45.07 and a twelve month high of $71.12. The firm has a fifty day moving average of $50.85 and a 200-day moving average of $55.79.

IDT (NYSE:IDT – Get Free Report) last issued its quarterly earnings data on Thursday, December 4th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.06. IDT had a net margin of 6.53% and a return on equity of 27.12%. The firm had revenue of $322.75 million for the quarter, compared to analyst estimates of $308.00 million.

IDT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, December 15th. IDT’s dividend payout ratio (DPR) is currently 7.45%.

IDT Company Profile

(Get Free Report)

IDT Corporation, founded in 1990 and headquartered in Newark, New Jersey, is a diversified global provider of telecommunications and payment services. The company operates through its primary communications arm, IDT Telecom, and a digital solutions segment that encompasses cross-border money transfers and related fintech offerings. Since its inception, IDT has built an international network infrastructure to support voice and data transmission across more than 200 countries and territories.

Through IDT Telecom, the company offers a suite of voice communication products, including prepaid phone cards, VoIP services, SIP trunking and operator-assisted calling.

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