IDT (NYSE:IDT) Rating Lowered to Buy at Wall Street Zen

Key Points

• Wall Street Zen downgraded IDT from a "strong-buy" to a "buy," while Weiss Ratings reiterated a "hold (c+)," leaving the MarketBeat consensus rating at "Hold."
• IDT beat quarterly expectations, reporting $1.00 EPS versus consensus $0.90 and revenue of $320.52M versus $302.00M, with a return on equity of 25.97% and a net margin of 6.49%.
• Company insiders sold shares on April 14 (EVP Menachem Ash sold 20,000 shares; CFO Marcelo Fischer sold 5,000), reducing their stakes; insiders now own 25.41% of the stock while institutional investors own 59.34%.

IDT (NYSE:IDT - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Sunday.

Separately, Weiss Ratings restated a "hold (c+)" rating on shares of IDT in a research note on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, IDT currently has a consensus rating of "Hold".

IDT Stock Performance

NYSE:IDT opened at $51.06 on Friday. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 15.66 and a beta of 0.65. IDT has a one year low of $45.72 and a one year high of $71.12. The stock has a 50-day simple moving average of $49.97 and a 200 day simple moving average of $50.04.

IDT (NYSE:IDT - Get Free Report) last posted its quarterly earnings results on Tuesday, March 10th. The utilities provider reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.10. The business had revenue of $320.52 million during the quarter, compared to the consensus estimate of $302.00 million. IDT had a return on equity of 25.97% and a net margin of 6.49%.

Insider Activity at IDT

In other news, EVP Menachem Ash sold 20,000 shares of the company'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 completion of the transaction, the executive vice president directly owned 32,243 shares of the company's stock, valued at approximately $1,644,393. This represents a 38.28% 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 the SEC website. Also, CFO Marcelo Fischer sold 5,000 shares of the company'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 value of $252,500.00. Following the transaction, the chief financial officer directly owned 56,147 shares of the company's stock, valued at $2,835,423.50. This trade represents a 8.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 25.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IDT

Several institutional investors have recently made changes to their positions in the stock. State of Tennessee Department of Treasury bought a new position in shares of IDT during the fourth quarter valued at approximately $268,000. Tudor Investment Corp ET AL grew its holdings in shares of IDT by 9.1% during the fourth quarter. Tudor Investment Corp ET AL now owns 16,274 shares of the utilities provider's stock valued at $833,000 after purchasing an additional 1,364 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of IDT by 447.8% during 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 purchasing an additional 8,240 shares during the last quarter. CSM Advisors LLC grew its holdings in shares of IDT by 107.4% during the fourth quarter. CSM Advisors LLC now owns 103,950 shares of the utilities provider's stock valued at $5,321,000 after purchasing an additional 53,835 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of IDT by 22.1% during the fourth quarter. Geode Capital Management LLC now owns 559,849 shares of the utilities provider's stock valued at $28,675,000 after purchasing an additional 101,268 shares during the last quarter. 59.34% of the stock is owned by institutional investors.

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.

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