Tue Oct 01 03:44:36 UTC 2024: ## IDT Co. (NYSE:IDT) Sees Decreased Short Interest, Upgraded by StockNews.com
**New York, NY – September 30, 2024** – IDT Co. (NYSE:IDT) experienced a decline in short interest during September, indicating a potential shift in market sentiment. As of September 15th, short interest totaled 193,800 shares, down 5.3% from August 31st’s figure of 204,600 shares. This reduction suggests that investors are becoming more optimistic about the company’s future performance.
Further bolstering this sentiment, StockNews.com upgraded IDT from a “buy” rating to a “strong-buy” rating on July 19th. This upgrade indicates that analysts believe IDT is a particularly compelling investment opportunity.
In other news, IDT announced a quarterly dividend of $0.05 per share, payable on October 7th. This translates to an annualized dividend of $0.20 and a dividend yield of 0.52%.
Meanwhile, insider activity suggests potential confidence in IDT. EVP Joyce J. Mason sold 7,570 shares on July 17th, while Director Eric F. Cosentino sold 800 shares on July 16th. However, insiders still hold 15% of the company’s stock.
Institutional investor activity also reflects a positive outlook. Russell Investments Group Ltd. increased its holdings in IDT by 40.3% during the first quarter, while Wealth Enhancement Advisory Services LLC bought a new position in the company.
IDT Corporation provides communication and payment services globally, operating through various segments, including Fintech, National Retail Solutions, net2phone, and Traditional Communications.
**Overall, IDT appears to be attracting positive attention from both analysts and investors.** The recent decrease in short interest, the upgrade from StockNews.com, and the consistent dividend payments suggest a positive outlook for the company.
First Piper 