IDT (NYSE:IDT) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened
by Amy Steele · The Cerbat GemIDT Corporation (NYSE:IDT – Get Free Report)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $49.88 and traded as high as $52.09. IDT shares last traded at $51.29, with a volume of 87,301 shares trading hands.
Analyst Ratings Changes
Several analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of IDT in a report on Friday, March 27th. Wall Street Zen raised shares of IDT from a “buy” rating to a “strong-buy” rating in a report on Saturday. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.
Read Our Latest Research Report on IDT
IDT Stock Up 0.9%
The business’s fifty day simple moving average is $49.78 and its two-hundred day simple moving average is $49.90. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 15.87 and a beta of 0.70.
IDT (NYSE:IDT – Get Free Report) last released its quarterly earnings data on Tuesday, March 10th. The utilities provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.10. IDT had a net margin of 6.49% and a return on equity of 25.97%. The company had revenue of $320.52 million for the quarter, compared to analysts’ expectations of $302.00 million.
IDT Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 19th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, March 19th. This is an increase from IDT’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 0.5%. IDT’s dividend payout ratio is 8.59%.
Insider Buying and Selling
In other IDT news, CFO Marcelo Fischer sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $50.50, for a total transaction of $252,500.00. Following the sale, the chief financial officer owned 56,147 shares of the company’s stock, valued at approximately $2,835,423.50. This trade represents a 8.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Menachem Ash sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $51.00, for a total transaction of $1,020,000.00. Following the sale, the executive vice president directly owned 32,243 shares in the company, valued at approximately $1,644,393. The trade was a 38.28% decrease in their position. The SEC filing for this sale provides additional information. 25.41% of the stock is currently owned by company insiders.
Institutional Trading of IDT
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Tennessee Department of Treasury acquired a new stake in IDT during the fourth quarter worth approximately $268,000. Tudor Investment Corp ET AL increased its holdings in shares of IDT by 9.1% in the 4th quarter. Tudor Investment Corp ET AL now owns 16,274 shares of the utilities provider’s stock valued at $833,000 after acquiring an additional 1,364 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of IDT by 447.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 10,080 shares of the utilities provider’s stock valued at $516,000 after acquiring an additional 8,240 shares during the period. CSM Advisors LLC increased its holdings in shares of IDT by 107.4% in the 4th quarter. CSM Advisors LLC now owns 103,950 shares of the utilities provider’s stock valued at $5,321,000 after acquiring an additional 53,835 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of 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. Institutional investors and hedge funds own 59.34% of the company’s stock.
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.