IDT (NYSE:IDT) Stock Passes Above 200 Day Moving Average – Here’s What Happened

IDT Corporation (NYSE:IDT)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $51.51 and traded as high as $61.58. IDT shares last traded at $60.99, with a volume of 189,762 shares.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IDT shares. Wall Street Zen lowered IDT from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 3rd. Weiss Ratings raised IDT from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 25th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

IDT Trading Down 0.1%

The stock has a market capitalization of $1.49 billion, a PE ratio of 18.31 and a beta of 0.64. The business has a fifty day moving average price of $54.76 and a 200-day moving average price of $51.63.

IDT (NYSE:IDT) last released its earnings results on Wednesday, June 3rd. The utilities provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.05. The company had revenue of $315.71 million during the quarter, compared to the consensus estimate of $308.00 million. IDT had a return on equity of 24.36% and a net margin of 6.41%.

IDT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Tuesday, June 9th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, June 9th. IDT’s payout ratio is presently 8.56%.

Insider Activity

In related news, CFO Marcelo Fischer sold 23,323 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $56.98, for a total transaction of $1,328,944.54. Following the transaction, the chief financial officer owned 32,824 shares of the company’s stock, valued at approximately $1,870,311.52. This trade represents a 41.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Menachem Ash sold 20,000 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $51.00, for a total transaction of $1,020,000.00. Following the completion of the sale, the executive vice president directly owned 32,243 shares of the company’s stock, valued at $1,644,393. This represents a 38.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 48,823 shares of company stock valued at $2,629,105. Corporate insiders own 25.41% of the company’s stock.

Institutional Investors Weigh In On IDT

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in IDT in the 4th quarter worth approximately $748,000. Cooke & Bieler LP purchased a new stake in shares of IDT during the fourth quarter valued at approximately $20,030,000. Marshall Wace LLP grew its holdings in shares of IDT by 1,436.4% in the second quarter. Marshall Wace LLP now owns 94,674 shares of the utilities provider’s stock worth $6,468,000 after purchasing an additional 88,512 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of IDT by 22.1% in the fourth quarter. Geode Capital Management LLC now owns 559,849 shares of the utilities provider’s stock worth $28,675,000 after purchasing an additional 101,268 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of IDT in the third quarter worth $96,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

IDT Company Profile

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.