IDT (NYSE:IDT) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

IDT Corporation (NYSE:IDT)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $50.85 and traded as high as $54.42. IDT shares last traded at $53.9110, with a volume of 211,376 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on IDT. Wall Street Zen downgraded shares of IDT from a “strong-buy” rating to a “buy” rating in a research note 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 Price Performance

The company has a market cap of $1.40 billion, a P/E ratio of 17.01 and a beta of 0.68. The stock has a 50-day moving average of $52.86 and a 200 day moving average of $50.89.

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

IDT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Tuesday, June 9th were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, June 9th. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. IDT’s dividend payout ratio (DPR) is currently 8.56%.

Insider Buying and Selling at IDT

In other IDT news, CFO Marcelo Fischer sold 5,000 shares of the firm’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $50.50, for a total value of $252,500.00. Following the sale, the chief financial officer owned 56,147 shares of the company’s stock, valued at approximately $2,835,423.50. This trade represents a 8.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Menachem Ash sold 20,000 shares of the firm’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $51.00, for a total value of $1,020,000.00. Following the completion of the sale, the executive vice president directly owned 32,243 shares in the company, valued at approximately $1,644,393. This represents a 38.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 25,500 shares of company stock worth $1,300,160 over the last three months. 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 IDT. AQR Capital Management LLC boosted its stake in shares of IDT by 40.2% in the 1st quarter. AQR Capital Management LLC now owns 58,197 shares of the utilities provider’s stock valued at $2,986,000 after purchasing an additional 16,678 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in IDT by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,156 shares of the utilities provider’s stock valued at $470,000 after purchasing an additional 381 shares during the last quarter. Millennium Management LLC lifted its stake in IDT by 392.6% in the 1st quarter. Millennium Management LLC now owns 163,830 shares of the utilities provider’s stock valued at $8,406,000 after purchasing an additional 130,569 shares during the last quarter. Marshall Wace LLP boosted its position in IDT by 1,436.4% in the second quarter. Marshall Wace LLP now owns 94,674 shares of the utilities provider’s stock valued at $6,468,000 after buying an additional 88,512 shares in the last quarter. Finally, Gabelli Funds LLC acquired a new stake in IDT in the second quarter valued at approximately $239,000. 59.34% of the stock is currently 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.