IDT (NYSE:IDT) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

IDT Corporation (NYSE:IDT) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $53.69 and traded as high as $65.24. IDT shares last traded at $64.64, with a volume of 147,555 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of IDT from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 25th. Wall Street Zen cut shares of IDT from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 3rd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

IDT Trading Down 0.3%

The stock has a 50-day simple moving average of $60.12 and a 200 day simple moving average of $53.80. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 19.95 and a beta of 0.60.

IDT (NYSE:IDT) last announced its quarterly earnings data on Wednesday, June 3rd. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.05. IDT had a return on equity of 24.36% and a net margin of 6.41%.The firm had revenue of $315.71 million during the quarter, compared to analysts’ expectations of $308.00 million.

IDT Announces Dividend

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. This represents a $0.28 annualized dividend and a yield of 0.4%. The ex-dividend date was Tuesday, June 9th. IDT’s dividend payout ratio (DPR) is currently 8.56%.

Insider Transactions at IDT

In related news, EVP Nadine Shea sold 500 shares of the business’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 completion of the sale, the executive vice president owned 8,725 shares of the company’s stock, valued at approximately $482,667. The trade was a 5.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marcelo Fischer sold 23,323 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer directly owned 32,824 shares of the company’s stock, valued at $1,870,311.52. This represents a 41.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 25.41% of the stock is owned by company insiders.

Hedge Funds Weigh In On IDT

Hedge funds and other institutional investors have recently modified their holdings of the business. Cooke & Bieler LP purchased a new position in IDT in the fourth quarter worth approximately $20,030,000. Millennium Management LLC boosted its stake in IDT by 392.6% in the first quarter. Millennium Management LLC now owns 163,830 shares of the utilities provider’s stock valued at $8,406,000 after acquiring an additional 130,569 shares in the last quarter. Geode Capital Management LLC grew its stake in IDT by 22.1% during the 4th quarter. Geode Capital Management LLC now owns 559,849 shares of the utilities provider’s stock worth $28,675,000 after buying an additional 101,268 shares during the last quarter. Marshall Wace LLP grew its position in shares of IDT by 1,436.4% during the second quarter. Marshall Wace LLP now owns 94,674 shares of the utilities provider’s stock worth $6,468,000 after acquiring an additional 88,512 shares during the last quarter. Finally, CSM Advisors LLC grew its position in IDT by 107.4% during the 4th quarter. CSM Advisors LLC now owns 103,950 shares of the utilities provider’s stock worth $5,321,000 after purchasing an additional 53,835 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other 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.