IDT (NYSE:IDT) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of IDT (NYSE:IDT – Get Rating) in a report published on Thursday. The firm issued a buy rating on the utilities provider’s stock.

Separately, TheStreet raised shares of IDT from a c+ rating to a b- rating in a report on Wednesday, February 15th.

IDT Stock Down 0.9 %

IDT opened at $33.92 on Thursday. The firm has a 50-day simple moving average of $30.47 and a two-hundred day simple moving average of $27.84. IDT has a 52 week low of $21.68 and a 52 week high of $37.77. The company has a market capitalization of $865.30 million, a PE ratio of 18.43 and a beta of 1.11.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. boosted its holdings in shares of IDT by 1.8% during the 4th quarter. Alliancebernstein L.P. now owns 20,250 shares of the utilities provider’s stock valued at $570,000 after purchasing an additional 350 shares during the last quarter. State of Wyoming lifted its holdings in shares of IDT by 47.1% in the 4th quarter. State of Wyoming now owns 9,790 shares of the utilities provider’s stock valued at $276,000 after acquiring an additional 3,136 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of IDT by 26.8% in the 4th quarter. Lazard Asset Management LLC now owns 4,382 shares of the utilities provider’s stock valued at $123,000 after acquiring an additional 927 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of IDT in the 4th quarter valued at about $381,000. Finally, Millennium Management LLC lifted its holdings in shares of IDT by 701.7% in the 4th quarter. Millennium Management LLC now owns 137,024 shares of the utilities provider’s stock valued at $3,860,000 after acquiring an additional 119,932 shares during the last quarter. Institutional investors own 42.94% of the company’s stock.

IDT Company Profile

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IDT Corp. operates as a holding company. The firm engages in the distribution and market of communications and payment services. It operates through the following segments: Fintech, net2phone-UCaaS and Traditional Communications. The Fintech segment offers money transfer services. The net2phone-UCaaS segment comprises cloud-based PBX services offered to enterprise customers mainly through value-added resellers, service providers, telecom agents and managed service providers, SIP trunking, which supports inbound and outbound domestic and international calling from an IP PBX and cable telephony.