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

IDT Corporation (NYSE:IDT) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $51.06 and traded as high as $55.99. IDT shares last traded at $55.86, with a volume of 153,812 shares changing hands.

Analyst Ratings Changes

Several brokerages recently weighed in on IDT. Weiss Ratings raised IDT from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. Wall Street Zen downgraded shares of IDT from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 3rd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, IDT has a consensus rating of “Hold”.

IDT Price Performance

The stock has a market capitalization of $1.42 billion, a P/E ratio of 17.47 and a beta of 0.68. The stock has a fifty day moving average price of $53.45 and a 200 day moving average price of $51.11.

IDT (NYSE:IDT) last released its quarterly earnings data on Wednesday, June 3rd. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $308.00 million.

IDT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Tuesday, June 9th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, June 9th. IDT’s dividend payout ratio is presently 8.56%.

Insider Transactions at IDT

In related news, EVP Menachem Ash sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $51.00, for a total transaction of $1,020,000.00. Following the completion of the transaction, the executive vice president owned 32,243 shares of the company’s stock, valued at approximately $1,644,393. The trade was a 38.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nadine Shea sold 500 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was 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 in the company, valued at $482,667. This trade 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 have sold 25,500 shares of company stock valued at $1,300,160. 25.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new position in shares of IDT in the third quarter worth $96,000. Gabelli Funds LLC purchased a new stake in shares of IDT in the second quarter worth $239,000. Entropy Technologies LP bought a new stake in IDT during the first quarter valued at $264,000. State of Tennessee Department of Treasury bought a new stake in IDT during the fourth quarter valued at $268,000. Finally, Ameriprise Financial Inc. purchased a new position in IDT during the third quarter worth about $399,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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.