IDT (NYSE:IDT) Share Price Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• IDT shares rose above their 200-day moving average, reaching $65.24 and last trading at $64.64, compared with a 200-day average of $53.69. The stock has a $1.61 billion market capitalization and a price-to-earnings ratio of 19.77.
• IDT’s latest quarterly results exceeded expectations, with EPS of $0.94 versus the $0.89 consensus estimate and revenue of $315.71 million versus $308 million expected.
• Analyst sentiment remains cautious, with the average rating at “Hold.” Two executives recently sold shares, while institutional investors own 59.34% of the company and insiders hold 25.41%.

IDT Corporation (NYSE:IDT - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $53.69 and traded as high as $65.24. IDT shares last traded at $64.64, with a volume of 147,555 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have commented on IDT. Weiss Ratings raised shares of IDT from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, June 25th. Wall Street Zen cut IDT from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 3rd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold".

IDT Trading Down 0.7%

The stock's 50 day moving average price is $59.92 and its 200 day moving average price is $53.69. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 19.77 and a beta of 0.60.

IDT (NYSE:IDT - Get Free Report) last released its earnings results on Wednesday, June 3rd. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.05. IDT had a net margin of 6.41% and a return on equity of 24.36%. The business had revenue of $315.71 million for the quarter, compared to analysts' expectations of $308.00 million.

IDT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Tuesday, June 9th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Tuesday, June 9th. IDT's dividend payout ratio (DPR) is 8.56%.

Insider Buying and Selling at IDT

In related news, EVP Nadine Shea sold 500 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $55.32, for a total value of $27,660.00. Following the transaction, the executive vice president directly owned 8,725 shares of the company's stock, valued at approximately $482,667. This trade represents a 5.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Marcelo Fischer sold 23,323 shares of IDT stock in a transaction on Friday, June 26th. The shares were sold at an average price of $56.98, for a total value of $1,328,944.54. Following the completion of the transaction, the chief financial officer owned 32,824 shares in the company, valued at $1,870,311.52. The trade was a 41.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 25.41% of the stock is owned by insiders.

Hedge Funds Weigh In On IDT

Large investors have recently modified their holdings of the company. Entropy Technologies LP acquired a new position in shares of IDT in the 1st quarter valued at about $264,000. Bank of New York Mellon Corp increased its position in IDT by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 117,607 shares of the utilities provider's stock worth $5,774,000 after purchasing an additional 1,088 shares in the last quarter. State of Tennessee Department of Treasury purchased a new position in IDT in the fourth quarter valued at approximately $268,000. Tudor Investment Corp ET AL lifted its position in 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 buying an additional 1,364 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in 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 buying an additional 8,240 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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