Marcelo Fischer, the Chief Financial Officer of IDT Corp (NYSE:IDT), recently sold a total of 2,406 shares of the company's Class B Common Stock. The transactions, which took place over the course of three days, occurred at prices ranging from $47.1367 to $48.5702 per share, amounting to a total value of approximately $114,787.
Following these sales, Fischer holds 36,190 shares directly. Additionally, he has 3,125 shares indirectly through a 401(k) plan. The sales were executed on October 11, 14, and 15, and were documented in a Form 4 filing with the Securities and Exchange Commission.
In other recent news, IDT Corporation has reported a robust Q4, marking a strong finish to its fiscal year 2024. The company's fourth quarter saw record adjusted EBITDA, with significant contributions from its NRS, BOSS Money, and net2phone segments. BOSS Money demonstrated over 40% year-over-year growth in both transaction volume and revenue, generating $4 million for the year, while net2phone added approximately 12,000 new seats, significantly improving its adjusted EBITDA margin.
Entering fiscal 2025 with strong momentum, IDT Corporation focuses on growing profitable segments and creating long-term shareholder value. The company plans to grow BOSS Money's EBITDA to over $10 million and moderate the decline in Traditional Communications EBITDA to $5-6 million. IDT is targeting over $100 million in EBITDA for 2025, following a record $90 million in 2024.
However, the Traditional Communications segment is projected to continue its decline, with EBITDA expected to fall to approximately $5-6 million in fiscal 2025. On a more positive note, growth in the mobile top-up business, the largest revenue contributor in the Traditional segment, is expected to offset these losses. The company also plans to expand the payment services network by adding 500 POS terminals monthly and targeting a 30% EBITDA increase for the NRS segment. These are among the recent developments at IDT Corporation.
InvestingPro Insights
As IDT Corp's CFO Marcelo Fischer reduces his stake in the company, investors might be interested in the broader financial picture of IDT. According to InvestingPro data, IDT currently has a market capitalization of $1.18 billion and trades at a P/E ratio of 18.44, which is relatively modest compared to some tech sector peers.
One of the InvestingPro Tips highlights that IDT is trading near its 52-week high, which aligns with the recent stock sales by the CFO. This could suggest that the company's stock is performing well, potentially offering a favorable selling opportunity for insiders. Additionally, IDT has shown strong returns over various time frames, with a particularly impressive 64.18% return over the past year.
Despite the recent insider selling, IDT's financial health appears robust. An InvestingPro Tip notes that the company holds more cash than debt on its balance sheet, indicating a strong liquidity position. This financial stability is further supported by the fact that IDT's liquid assets exceed its short-term obligations.
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips on IDT, providing a deeper dive into the company's financial health and market position. These insights could be particularly valuable in contextualizing the recent insider transactions and assessing IDT's overall investment potential.
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