IDT (NYSE:IDT) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

IDT Corporation (NYSE:IDT) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $53.03 and traded as high as $66.12. IDT shares last traded at $65.8640, with a volume of 213,287 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on IDT. Weiss Ratings raised IDT from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 25th. Wall Street Zen lowered shares of IDT from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 3rd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

IDT Price Performance

The stock has a 50 day moving average of $58.48 and a two-hundred day moving average of $53.03. The stock has a market capitalization of $1.64 billion, a PE ratio of 20.14 and a beta of 0.64.

IDT (NYSE:IDT) last announced its quarterly earnings results 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 net margin of 6.41% and a return on equity of 24.36%. The business had revenue of $315.71 million during the quarter, compared to the consensus estimate of $308.00 million.

IDT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Tuesday, June 9th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, June 9th. IDT’s payout ratio is 8.56%.

Insider Transactions at IDT

In other news, CFO Marcelo Fischer sold 23,323 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $56.98, for a total value of $1,328,944.54. Following the sale, the chief financial officer directly owned 32,824 shares in the company, valued at $1,870,311.52. This represents a 41.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nadine Shea sold 500 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $55.32, for a total transaction of $27,660.00. Following the completion of the transaction, the executive vice president owned 8,725 shares in the company, valued at approximately $482,667. This trade represents a 5.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 25.41% of the company’s stock.

Hedge Funds Weigh In On IDT

Institutional investors have recently added to or reduced their stakes in the business. Entropy Technologies LP acquired a new stake in shares of IDT in the first quarter worth approximately $264,000. Bank of New York Mellon Corp grew its position in IDT by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 117,607 shares of the utilities provider’s stock valued at $5,774,000 after acquiring an additional 1,088 shares during the period. State of Tennessee Department of Treasury purchased a new position in shares of IDT in the 4th quarter worth about $268,000. Tudor Investment Corp ET AL grew its holdings in shares of IDT by 9.1% during the 4th quarter. Tudor Investment Corp ET AL now owns 16,274 shares of the utilities provider’s stock worth $833,000 after purchasing an additional 1,364 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in IDT by 447.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 10,080 shares of the utilities provider’s stock valued at $516,000 after buying an additional 8,240 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.