IDT (NYSE:IDT) Reaches New 12-Month High – Still a Buy?

IDT Corporation (NYSE:IDT) hit a new 52-week high on Tuesday . The company traded as high as $72.10 and last traded at $70.89, with a volume of 221368 shares traded. The stock had previously closed at $70.51.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded IDT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

IDT Stock Performance

The firm has a market cap of $1.73 billion, a PE ratio of 21.29 and a beta of 0.62. The stock has a 50-day simple moving average of $66.45 and a two-hundred day simple moving average of $57.39.

Insider Activity at IDT

In other news, CFO Marcelo Fischer sold 23,323 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $56.98, for a total transaction of $1,328,944.54. Following the completion of the transaction, the chief financial officer directly owned 32,824 shares of the company’s stock, 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. 25.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On IDT

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cooke & Bieler LP purchased a new stake in IDT during the 4th quarter valued at $20,030,000. Kahn Brothers Group Inc. purchased a new position in shares of IDT in the 2nd quarter worth $18,292,990,000. Bank of New York Mellon Corp boosted its stake in shares of IDT by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 117,607 shares of the utilities provider’s stock worth $5,774,000 after buying an additional 1,088 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of IDT in the second quarter worth $646,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of IDT in the second quarter worth $596,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

IDT Company Profile

IDT Corporation is a telecommunications and financial technology company that provides communications, payment and business services to consumers, small businesses and retail customers. The company operates through brands and businesses focused on international calling, mobile top-ups, money transfers, cloud communications and retail technology.

Its BOSS Revolution platform offers international calling, prepaid wireless services, mobile recharging and international money transfers, primarily serving immigrant and international communities.