IDT (NYSE:IDT) Sees Strong Trading Volume - Here's What Happened

Key Points

• IDT Corporation experienced a trading volume of 171,712 shares, down 11% from the previous session, with the stock price last recorded at $58.83.
• Wall Street analysts downgraded IDT from a "strong-buy" to a "buy" rating, indicating a shift in market sentiment.
• The company recently announced a quarterly dividend of $0.06 per share, reflecting an annualized dividend of $0.24 and a yield of 0.4%.

IDT Corporation (NYSE:IDT - Get Free Report) saw strong trading volume on Tuesday . 171,712 shares were traded during trading, a decline of 11% from the previous session's volume of 192,502 shares.The stock last traded at $58.83 and had previously closed at $58.08.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of IDT from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 14th.

IDT Stock Down 0.5%

The company's fifty day moving average price is $62.77 and its 200-day moving average price is $54.79. The stock has a market capitalization of $1.49 billion, a PE ratio of 15.56 and a beta of 0.74.

IDT (NYSE:IDT - Get Free Report) last announced its earnings results on Thursday, June 5th. The utilities provider reported $0.87 earnings per share for the quarter. IDT had a net margin of 7.85% and a return on equity of 26.38%. The business had revenue of $301.98 million during the quarter.

IDT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 9th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. IDT's payout ratio is 6.33%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Park Square Financial Group LLC bought a new position in shares of IDT during the 4th quarter valued at about $44,000. Copeland Capital Management LLC bought a new position in shares of IDT during the 1st quarter valued at about $57,000. AlphaQuest LLC boosted its holdings in shares of IDT by 700.0% during the 1st quarter. AlphaQuest LLC now owns 1,472 shares of the utilities provider's stock valued at $76,000 after purchasing an additional 1,288 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of IDT during the 4th quarter valued at about $180,000. Finally, Raymond James Financial Inc. bought a new position in shares of IDT during the 4th quarter valued at about $201,000. Institutional investors own 59.34% of the company's stock.

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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