IDT Corporation (IDT) Insider Lowers Exposure By 1,000 Shares

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IDT Corporation (NYSE:IDT) saw an insider lower his position in the company today. The Director Eric F. Cosentino disposed of 1,000 shares of common stock at an average price of $14.76 per share. Following this move, Cosentino holds 532 shares directly. IDT Corporation A $359.96 million market cap company, (NYSE:IDT) is a multinational holding company with operations primarily in the telecommunications industry. The Company operates in two segments: Telecom Platform Services and Consumer phones Services, which comprise its IDT Telecom division. Telecom Platform Services provides telecommunications services, including prepaid and rechargeable calling products and international long distance traffic termination, as well as various payment services.
In addition, among the institutional investors involved in the company is Renaissance Technologies, the fund run by billionaire Jim Simons. After raising its holdings by 5% over the course of the last fiscal quarter, the fund now holds 943,160 shares worth about $16 million.
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.
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