In a recent transaction reported to the Securities and Exchange Commission, David Wartell, the Chief Technology Officer of IDT Corp (NYSE:IDT), sold a significant portion of his holdings in the company. IDT, with a market capitalization of $1.2 billion and a strong financial health score rated as "GREAT" by InvestingPro, has seen its stock surge over 34% in the past six months. On December 23, Wartell sold 17,116 shares of Class B Common Stock at an average price of $47.1072 per share, totaling approximately $806,286. Following this sale, Wartell no longer holds any shares of the company's stock. This transaction was filed with the SEC on December 26, with the signature of Joyce J. Mason by Power of Attorney. The company maintains a healthy balance sheet with more cash than debt and strong liquidity metrics. Discover 8 more key insights about IDT's financial strength with an InvestingPro subscription.
In other recent news, IDT Corporation has reported strong financial performance for the first quarter of fiscal year 2025, surpassing earnings expectations with a Q1 EPS of $0.71. The company achieved record levels in gross profit and adjusted EBITDA, with revenue reaching $309.6 million. Furthermore, IDT Corporation disclosed the outcomes of its Annual Meeting of Stockholders and declared a quarterly dividend of $0.05 per share. The meeting saw all nominees to the Board of Directors secure their positions with a significant majority, and the compensation of Named Executive Officers passed with 99.01% approval.
Despite challenges from foreign exchange fluctuations impacting international operations, IDT Corporation remains focused on U.S. market expansion and product innovation. The company's NRS segment saw increased adoption of payment processing services, contributing to the positive financial results. These are recent developments in the company's financial and operational performance, providing investors with crucial insights.
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