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

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 traded.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IDT. Weiss Ratings upgraded shares of IDT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. Wall Street Zen lowered shares of IDT from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 3rd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

IDT Stock Performance

The business has a 50 day moving average of $54.46 and a two-hundred day moving average of $51.51. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 18.65 and a beta of 0.64.

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

IDT Announces Dividend

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

Insider Buying and Selling at IDT

In related news, EVP Nadine Shea sold 500 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $55.32, for a total value of $27,660.00. Following the sale, the executive vice president owned 8,725 shares in the company, valued at $482,667. This represents a 5.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Marcelo Fischer sold 23,323 shares of IDT stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $56.98, for a total value of $1,328,944.54. Following the transaction, the chief financial officer owned 32,824 shares of the company’s stock, valued at $1,870,311.52. This trade represents a 41.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 48,823 shares of company stock valued at $2,629,105. Corporate insiders own 25.41% of the company’s stock.

Institutional Trading of IDT

Several institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new position in shares of IDT during the third quarter valued at approximately $96,000. Gabelli Funds LLC purchased a new stake in IDT in the 2nd quarter valued at $239,000. Entropy Technologies LP bought a new position in IDT during the 1st quarter valued at $264,000. State of Tennessee Department of Treasury bought a new position in IDT during the 4th quarter valued at $268,000. Finally, Ameriprise Financial Inc. purchased a new position in IDT during the 3rd quarter worth $399,000. 59.34% of the stock is 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.