IDT (NYSE:IDT) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

IDT Co. (NYSE:IDT)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $44.49 and traded as high as $49.00. IDT shares last traded at $48.72, with a volume of 69,125 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded IDT from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 1st.

IDT Price Performance

The stock has a fifty day simple moving average of $47.97 and a two-hundred day simple moving average of $44.61. The firm has a market capitalization of $1.23 billion, a P/E ratio of 16.68 and a beta of 0.80.

IDT (NYSE:IDT) last announced its quarterly earnings data on Wednesday, December 4th. The utilities provider reported $0.69 EPS for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%.

IDT Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 24th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a yield of 0.42%. IDT’s dividend payout ratio (DPR) is currently 6.85%.

Insider Buying and Selling

In related news, EVP Nadine Shea sold 1,000 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $53.74, for a total transaction of $53,740.00. Following the completion of the transaction, the executive vice president now directly owns 4,775 shares in the company, valued at $256,608.50. The trade was a 17.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO David Wartell sold 17,116 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $47.11, for a total value of $806,334.76. The disclosure for this sale can be found here. 25.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IDT

A number of hedge funds and other institutional investors have recently modified their holdings of IDT. New York State Teachers Retirement System purchased a new stake in IDT during the 3rd quarter valued at about $54,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of IDT by 35.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider’s stock worth $116,000 after acquiring an additional 632 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of IDT in the 4th quarter worth approximately $129,000. New Age Alpha Advisors LLC bought a new position in shares of IDT in the 4th quarter worth approximately $134,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of IDT in the 4th quarter worth approximately $200,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

IDT Company Profile

IDT Corporation provides communications and payment services in the United States, the United Kingdom, and internationally. It operates through Fintech, National Retail Solutions, net2phone, and Traditional Communications segments. The company operates point of sale, a terminal-based platform which provides independent retailers store management software, electronic payment processing, and other ancillary merchant services; and provides marketers with digital out-of-home advertising and transaction data.