IDT (NYSE:IDT) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

IDT Corporation (NYSE:IDT) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $50.85 and traded as high as $54.42. IDT shares last traded at $53.9110, with a volume of 211,376 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wall Street Zen cut shares of IDT from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 3rd. Weiss Ratings lowered shares of IDT from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

IDT Stock Performance

The company has a market cap of $1.35 billion, a price-to-earnings ratio of 16.49 and a beta of 0.68. The firm’s 50 day simple moving average is $52.72 and its 200-day simple moving average is $50.85.

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

IDT Announces Dividend

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

Insiders Place Their Bets

In other IDT news, CFO Marcelo Fischer sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $50.50, for a total value of $252,500.00. Following the transaction, the chief financial officer directly owned 56,147 shares of the company’s stock, valued at $2,835,423.50. This trade represents a 8.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nadine Shea sold 500 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $55.32, for a total value of $27,660.00. Following the transaction, the executive vice president owned 8,725 shares in the company, valued at approximately $482,667. This represents a 5.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 25,500 shares of company stock valued at $1,300,160 in the last ninety days. 25.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IDT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in IDT in the 4th quarter valued at $748,000. Cooke & Bieler LP purchased a new position in shares of IDT during the 4th quarter worth $20,030,000. CSM Advisors LLC raised its holdings in shares of IDT by 107.4% during the 4th quarter. CSM Advisors LLC now owns 103,950 shares of the utilities provider’s stock worth $5,321,000 after acquiring an additional 53,835 shares during the period. Lazard Asset Management LLC boosted its position in shares of IDT by 310.8% during the 2nd quarter. Lazard Asset Management LLC now owns 53,340 shares of the utilities provider’s stock valued at $3,643,000 after acquiring an additional 40,357 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of IDT by 40.2% in the first quarter. AQR Capital Management LLC now owns 58,197 shares of the utilities provider’s stock valued at $2,986,000 after purchasing an additional 16,678 shares during the period. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.