IDT (NYSE:IDT) Reaches New 12-Month High - Still a Buy?

IDT Co. (NYSE:IDT - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $62.53 and last traded at $61.74, with a volume of 183415 shares. The stock had previously closed at $62.13.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of IDT from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, March 18th.

IDT Trading Down 0.6%

The company's 50-day moving average is $51.46 and its 200 day moving average is $49.72. The firm has a market cap of $1.56 billion, a PE ratio of 21.14 and a beta of 0.69.

IDT (NYSE:IDT - Get Free Report) last released its earnings results on Thursday, March 6th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter. The company had revenue of $303.35 million during the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%.

IDT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 17th were paid a $0.06 dividend. This is an increase from IDT's previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 0.39%. The ex-dividend date was Monday, March 17th. IDT's dividend payout ratio is currently 7.62%.

Insiders Place Their Bets

In other news, CTO David Wartell sold 10,735 shares of the company's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total value of $525,907.65. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 25.32% of the company's stock.

Institutional Trading of IDT

Several institutional investors have recently made changes to their positions in the stock. Nuveen LLC acquired a new position in IDT in the 1st quarter valued at approximately $10,409,000. Millennium Management LLC increased its stake in shares of IDT by 392.6% in the first quarter. Millennium Management LLC now owns 163,830 shares of the utilities provider's stock worth $8,406,000 after acquiring an additional 130,569 shares during the last quarter. Emmett Investment Management LP purchased a new stake in shares of IDT during the fourth quarter worth $5,257,000. Deutsche Bank AG boosted its position in IDT by 32.4% during the fourth quarter. Deutsche Bank AG now owns 330,616 shares of the utilities provider's stock valued at $15,711,000 after purchasing an additional 80,817 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in IDT by 209.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 86,741 shares of the utilities provider's stock valued at $4,451,000 after purchasing an additional 58,727 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.

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