IDT (NYSE:IDT) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Shares of IDT Corporation (NYSE:IDT) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $51.92 and traded as high as $63.80. IDT shares last traded at $62.76, with a volume of 156,844 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Weiss Ratings upgraded IDT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. Wall Street Zen cut shares of IDT from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 3rd. 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 Stock Performance

The company has a market capitalization of $1.56 billion, a P/E ratio of 19.19 and a beta of 0.64. The stock’s fifty day moving average price is $55.60 and its 200-day moving average price is $51.92.

IDT (NYSE:IDT) last posted its quarterly earnings results on Wednesday, June 3rd. The utilities provider reported $0.94 EPS for the quarter, topping 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 return on equity of 24.36% and a net margin of 6.41%.

IDT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Tuesday, June 9th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, June 9th. IDT’s dividend payout ratio (DPR) is presently 8.56%.

Insider Activity at IDT

In related news, CFO Marcelo Fischer sold 23,323 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $56.98, for a total value of $1,328,944.54. Following the sale, the chief financial officer owned 32,824 shares in the company, valued at approximately $1,870,311.52. This represents a 41.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nadine Shea sold 500 shares of the firm’s stock in a transaction on 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 directly owned 8,725 shares of the company’s stock, valued at $482,667. This represents a 5.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 25.41% of the company’s stock.

Hedge Funds Weigh In On IDT

Several large investors have recently modified their holdings of IDT. Entropy Technologies LP acquired a new stake in shares of IDT during the 1st quarter worth about $264,000. Bank of New York Mellon Corp grew its position in shares of IDT by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 117,607 shares of the utilities provider’s stock valued at $5,774,000 after purchasing an additional 1,088 shares during the last quarter. State of Tennessee Department of Treasury acquired a new position in shares of IDT in the fourth quarter valued at approximately $268,000. Tudor Investment Corp ET AL increased its stake in shares of IDT by 9.1% during the fourth quarter. Tudor Investment Corp ET AL now owns 16,274 shares of the utilities provider’s stock worth $833,000 after purchasing an additional 1,364 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in IDT by 447.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 10,080 shares of the utilities provider’s stock worth $516,000 after purchasing an additional 8,240 shares during the last quarter. 59.34% of the stock is owned by institutional investors.

About IDT

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.