IDT (NYSE:IDT) Downgraded to Buy Rating by StockNews.com

IDT (NYSE:IDT) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.

IDT Stock Up 1.3 %

NYSE IDT opened at $47.68 on Tuesday. IDT has a 52 week low of $32.08 and a 52 week high of $58.77. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 16.33 and a beta of 0.78. The company has a fifty day moving average of $49.32 and a two-hundred day moving average of $41.71.

IDT (NYSE:IDT) last released its quarterly earnings results on Tuesday, October 8th. The utilities provider reported $0.51 EPS for the quarter. The firm had revenue of $308.83 million during the quarter. IDT had a net margin of 6.10% and a return on equity of 22.18%.

Insider Buying and Selling

In other IDT news, EVP Nadine Shea sold 1,000 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $53.74, for a total value of $53,740.00. Following the transaction, the executive vice president now directly owns 4,775 shares in the company, valued at $256,608.50. This represents a 17.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Bill Pereira sold 29,175 shares of IDT stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $47.24, for a total transaction of $1,378,227.00. Following the sale, the chief operating officer now directly owns 40,000 shares of the company’s stock, valued at $1,889,600. This represents a 42.18 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 35,582 shares of company stock valued at $1,686,308. Insiders own 25.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Ritholtz Wealth Management bought a new position in shares of IDT during the 2nd quarter worth $537,000. Point72 Asset Management L.P. grew its holdings in IDT by 272.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 13,396 shares of the utilities provider’s stock worth $511,000 after acquiring an additional 9,796 shares in the last quarter. Cerity Partners LLC increased its position in IDT by 121.7% during the 3rd quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider’s stock valued at $3,653,000 after purchasing an additional 52,532 shares during the period. FMR LLC raised its holdings in shares of IDT by 26.8% in the 3rd quarter. FMR LLC now owns 83,868 shares of the utilities provider’s stock valued at $3,201,000 after purchasing an additional 17,725 shares in the last quarter. Finally, Summit Global Investments purchased a new stake in shares of IDT in the 3rd quarter worth approximately $637,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

About IDT

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.