IDT (NYSE:IDT) Stock Price Passes Above 200-Day Moving Average – Here’s Why

IDT Corporation (NYSE:IDT)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $51.06 and traded as high as $55.99. IDT shares last traded at $55.86, with a volume of 153,812 shares changing hands.

Wall Street Analyst Weigh In

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

IDT Stock Up 0.3%

The company’s 50-day simple moving average is $53.32 and its 200 day simple moving average is $51.06. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 17.08 and a beta of 0.68.

IDT (NYSE:IDT) last announced its quarterly 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 analysts’ expectations of $308.00 million. IDT had a return on equity of 24.36% and a net margin of 6.41%.

IDT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Tuesday, June 9th were paid 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 of this dividend was Tuesday, June 9th. IDT’s dividend payout ratio (DPR) is presently 8.56%.

Insider Buying and Selling

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

Institutional Trading of IDT

Several large investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of IDT by 22.1% during the 4th quarter. Geode Capital Management LLC now owns 559,849 shares of the utilities provider’s stock worth $28,675,000 after buying an additional 101,268 shares during the period. Cooke & Bieler LP bought a new position in IDT in the 4th quarter worth $20,030,000. Millennium Management LLC raised its holdings in IDT by 392.6% in the 1st quarter. Millennium Management LLC now owns 163,830 shares of the utilities provider’s stock worth $8,406,000 after acquiring an additional 130,569 shares during the period. Bank of New York Mellon Corp lifted its position in IDT by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 117,607 shares of the utilities provider’s stock worth $5,774,000 after acquiring an additional 1,088 shares during the last quarter. Finally, CSM Advisors LLC lifted its position in 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 last quarter. 59.34% of the stock is owned by 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.