IDT (NYSE:IDT) Shares Cross Above 200-Day Moving Average – What’s Next?

IDT Corporation (NYSE:IDT)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $52.42 and traded as high as $63.82. IDT shares last traded at $62.54, with a volume of 280,099 shares.

Analyst Upgrades and Downgrades

IDT has been the topic of several research reports. Wall Street Zen downgraded IDT from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 3rd. Weiss Ratings upgraded IDT from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 25th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, IDT currently has an average rating of “Hold”.

IDT Stock Down 2.6%

The stock has a market capitalization of $1.56 billion, a P/E ratio of 19.13 and a beta of 0.64. The stock’s 50 day moving average price is $56.85 and its 200-day moving average price is $52.42.

IDT (NYSE:IDT) last issued its quarterly earnings data 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 company had revenue of $315.71 million during the quarter, compared to the consensus estimate of $308.00 million. IDT had a net margin of 6.41% and a return on equity of 24.36%.

IDT Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, June 9th. IDT’s payout ratio is presently 8.56%.

Insiders Place Their Bets

In other IDT news, CFO Marcelo Fischer sold 23,323 shares of IDT stock in a transaction dated 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 transaction, the chief financial officer owned 32,824 shares in the company, valued at $1,870,311.52. The trade was a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nadine Shea sold 500 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $55.32, for a total transaction of $27,660.00. Following the completion of the transaction, the executive vice president owned 8,725 shares of the company’s stock, valued at $482,667. This represents a 5.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 25.41% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IDT. Entropy Technologies LP bought a new position in shares of IDT during the 1st quarter worth approximately $264,000. Bank of New York Mellon Corp lifted its position in IDT by 0.9% during 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 acquiring an additional 1,088 shares during the last quarter. State of Tennessee Department of Treasury acquired a new stake in IDT in the fourth quarter valued at approximately $268,000. Tudor Investment Corp ET AL boosted its stake in IDT by 9.1% in the fourth quarter. Tudor Investment Corp ET AL now owns 16,274 shares of the utilities provider’s stock valued at $833,000 after acquiring an additional 1,364 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in IDT by 447.8% in the fourth 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. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.