StockNews.com upgraded shares of IDT (NYSE:IDT – Free Report) from a buy rating to a strong-buy rating in a report published on Wednesday.
IDT Trading Up 0.5 %
Shares of IDT opened at $47.52 on Wednesday. IDT has a twelve month low of $32.08 and a twelve month high of $58.77. The firm has a market capitalization of $1.20 billion, a P/E ratio of 16.27 and a beta of 0.78. The stock’s fifty day simple moving average is $49.41 and its 200 day simple moving average is $42.15.
IDT (NYSE:IDT – Get Free Report) last released its quarterly earnings data on Tuesday, October 8th. The utilities provider reported $0.51 EPS for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%. The company had revenue of $308.83 million for the quarter.
IDT Cuts Dividend
Insider Buying and Selling
In other IDT news, COO Bill Pereira sold 29,175 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $47.24, for a total value of $1,378,227.00. Following the completion of the transaction, the chief operating officer now owns 40,000 shares in the company, valued at $1,889,600. This represents a 42.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joyce J. Mason sold 2,290 shares of IDT stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $47.18, for a total transaction of $108,042.20. Following the sale, the executive vice president now owns 37,113 shares in the company, valued at $1,750,991.34. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 52,698 shares of company stock valued at $2,492,643. Company insiders own 25.32% of the company’s stock.
Institutional Trading of IDT
Several large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in IDT by 10.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 55,876 shares of the utilities provider’s stock valued at $2,133,000 after purchasing an additional 5,417 shares in the last quarter. Barclays PLC boosted its stake in shares of IDT by 240.3% during the 3rd quarter. Barclays PLC now owns 27,066 shares of the utilities provider’s stock valued at $1,034,000 after buying an additional 19,112 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of IDT by 6.5% in the third quarter. Geode Capital Management LLC now owns 421,096 shares of the utilities provider’s stock worth $16,077,000 after buying an additional 25,541 shares during the last quarter. XTX Topco Ltd boosted its stake in IDT by 68.9% during the 3rd quarter. XTX Topco Ltd now owns 9,564 shares of the utilities provider’s stock valued at $365,000 after acquiring an additional 3,903 shares during the last quarter. Finally, State Street Corp grew its holdings in IDT by 0.5% during the 3rd quarter. State Street Corp now owns 390,145 shares of the utilities provider’s stock worth $14,911,000 after acquiring an additional 2,071 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.
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.
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