IDT (NYSE:IDT) Shares Cross Above 200 Day Moving Average – Here’s Why

Shares of IDT Co. (NYSE:IDT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $43.72 and traded as high as $47.73. IDT shares last traded at $47.45, with a volume of 49,856 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of IDT from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 1st.

IDT Stock Up 0.7 %

The business’s 50 day moving average is $48.83 and its two-hundred day moving average is $43.72. The firm has a market cap of $1.20 billion, a P/E ratio of 16.25 and a beta of 0.81.

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

IDT Cuts Dividend

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

Insider Buying and Selling

In other IDT news, EVP Nadine Shea sold 1,000 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $53.74, for a total value of $53,740.00. Following the completion of the sale, the executive vice president now directly owns 4,775 shares in the company, valued at approximately $256,608.50. This trade represents a 17.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO David Wartell sold 17,116 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $47.11, for a total transaction of $806,334.76. The disclosure for this sale can be found here. 25.32% of the stock is owned by insiders.

Institutional Investors Weigh In On IDT

A number of large investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC grew its holdings in IDT by 0.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 589,315 shares of the utilities provider’s stock worth $22,494,000 after purchasing an additional 2,169 shares during the period. Geode Capital Management LLC grew its holdings in shares of IDT by 6.5% during the third quarter. Geode Capital Management LLC now owns 421,096 shares of the utilities provider’s stock valued at $16,077,000 after buying an additional 25,541 shares during the last quarter. State Street Corp grew its holdings in shares of IDT by 0.5% during the third quarter. State Street Corp now owns 390,145 shares of the utilities provider’s stock valued at $14,911,000 after buying an additional 2,071 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of IDT by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 157,808 shares of the utilities provider’s stock valued at $6,024,000 after buying an additional 6,183 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of IDT by 121.7% during the third quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider’s stock valued at $3,653,000 after buying an additional 52,532 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.