IDT (NYSE:IDT) Reaches New 12-Month High – Should You Buy?

Shares of IDT Corporation (NYSE:IDT) reached a new 52-week high on Thursday . The stock traded as high as $69.97 and last traded at $69.1530, with a volume of 7123 shares trading hands. The stock had previously closed at $68.94.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of IDT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

IDT Stock Up 0.1%

The business’s 50 day moving average is $64.77 and its 200 day moving average is $56.21. The company has a market cap of $1.71 billion, a P/E ratio of 21.05 and a beta of 0.62.

IDT (NYSE:IDT) last announced its earnings results on Wednesday, June 3rd. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.05. The business had revenue of $315.71 million for 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%.

Insider Activity

In other IDT news, CFO Marcelo Fischer sold 23,323 shares of the business’s 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 completion of the transaction, the chief financial officer directly owned 32,824 shares in the company, valued at approximately $1,870,311.52. The trade was a 41.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nadine Shea sold 500 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $55.32, for a total transaction of $27,660.00. Following the sale, the executive vice president directly owned 8,725 shares of the company’s stock, valued at approximately $482,667. The trade was a 5.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 25.41% of the stock is owned by insiders.

Institutional Investors Weigh In On IDT

A number of hedge funds and other institutional investors have recently bought and sold shares of IDT. California State Teachers Retirement System grew its holdings in IDT by 6,831.1% in the second quarter. California State Teachers Retirement System now owns 1,340,821 shares of the utilities provider’s stock worth $77,982,000 after purchasing an additional 1,321,476 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of IDT by 22.1% during the 4th quarter. Geode Capital Management LLC now owns 559,849 shares of the utilities provider’s stock valued at $28,675,000 after purchasing an additional 101,268 shares during the last quarter. Cooke & Bieler LP purchased a new stake in shares of IDT during the 4th quarter valued at $20,030,000. Kahn Brothers Group Inc. acquired a new stake in shares of IDT in the 2nd quarter worth $18,292,990,000. Finally, Millennium Management LLC boosted its position in shares of IDT by 392.6% in the 1st quarter. Millennium Management LLC now owns 163,830 shares of the utilities provider’s stock worth $8,406,000 after purchasing an additional 130,569 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.