IDT Corporation (NYSE:IDT – Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $51.51 and traded as high as $61.58. IDT shares last traded at $60.99, with a volume of 189,762 shares changing hands.
Analyst Ratings Changes
IDT has been the subject of several analyst reports. Weiss Ratings upgraded shares of IDT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. Wall Street Zen downgraded IDT from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 3rd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.
Check Out Our Latest Research Report on IDT
IDT Trading Up 1.2%
IDT (NYSE:IDT – Get Free Report) last announced its quarterly earnings data on Wednesday, June 3rd. The utilities provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.89 by $0.05. The business 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 disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Tuesday, June 9th were paid a $0.07 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $0.28 annualized dividend and a yield of 0.5%. IDT’s dividend payout ratio is presently 8.56%.
Insider Buying and Selling at IDT
In other news, CFO Marcelo Fischer sold 23,323 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $56.98, for a total transaction of $1,328,944.54. Following the transaction, the chief financial officer owned 32,824 shares of the company’s stock, valued at $1,870,311.52. This represents a 41.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nadine Shea sold 500 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $55.32, for a total value of $27,660.00. Following the transaction, the executive vice president directly owned 8,725 shares in the company, valued at $482,667. This represents a 5.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 48,823 shares of company stock valued at $2,629,105. Company insiders own 25.41% of the company’s stock.
Institutional Investors Weigh In On IDT
Several large investors have recently added to or reduced their stakes in IDT. Geode Capital Management LLC raised its stake in IDT by 22.1% in the 4th quarter. Geode Capital Management LLC now owns 559,849 shares of the utilities provider’s stock valued at $28,675,000 after acquiring an additional 101,268 shares during the period. Cooke & Bieler LP bought a new position in IDT during the fourth quarter worth about $20,030,000. Millennium Management LLC boosted its position in IDT by 392.6% during the first 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 during the period. Bank of New York Mellon Corp increased its stake in shares of IDT by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 117,607 shares of the utilities provider’s stock worth $5,774,000 after purchasing an additional 1,088 shares in the last quarter. Finally, CSM Advisors LLC raised its position in shares of IDT by 107.4% in the fourth quarter. CSM Advisors LLC now owns 103,950 shares of the utilities provider’s stock valued at $5,321,000 after purchasing an additional 53,835 shares during the period. 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.
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