IDT (NYSE:IDT) Stock Price Passes Above 200-Day Moving Average – What’s Next?

IDT Corporation (NYSE:IDT)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $54.43 and traded as high as $67.80. IDT shares last traded at $66.7130, with a volume of 152,844 shares trading hands.

Analyst Upgrades and Downgrades

IDT has been the subject of a number of research analyst reports. 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 IDT from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 3rd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

IDT Trading Up 1.9%

The company has a market capitalization of $1.68 billion, a PE ratio of 20.63 and a beta of 0.60. The company’s 50 day moving average price is $61.43 and its 200-day moving average price is $54.56.

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

IDT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Tuesday, June 9th were given a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $0.28 annualized dividend and a yield of 0.4%. IDT’s dividend payout ratio (DPR) is 8.56%.

Insider Activity at IDT

In other IDT news, CFO Marcelo Fischer sold 23,323 shares of the company’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 of the company’s stock, valued at $1,870,311.52. This represents a 41.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 value of $27,660.00. Following the completion of the transaction, the executive vice president directly owned 8,725 shares of the company’s stock, valued at $482,667. This represents a 5.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 25.41% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IDT. Public Employees Retirement System of Ohio acquired a new position in IDT in the third quarter worth about $96,000. Gabelli Funds LLC acquired a new stake in shares of IDT in the second quarter valued at approximately $239,000. Entropy Technologies LP bought a new stake in IDT during the 1st quarter valued at $264,000. State of Tennessee Department of Treasury bought a new stake in shares of IDT during the fourth quarter valued at about $268,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of IDT during the 3rd quarter worth about $399,000. 59.34% of the stock is owned by institutional investors and hedge funds.

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.