IDT (NYSE:IDT) Trading Down 5.7% - Here's What Happened

Shares of IDT Corporation (NYSE:IDT - Get Free Report) dropped 5.7% during mid-day trading on Tuesday . The stock traded as low as $64.73 and last traded at $64.73. Approximately 156,060 shares changed hands during mid-day trading, an increase of 34% from the average daily volume of 116,557 shares. The stock had previously closed at $68.66.

Wall Street Analysts Forecast Growth

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

IDT Price Performance

The firm has a fifty day simple moving average of $62.14 and a two-hundred day simple moving average of $53.24. The firm has a market capitalization of $1.66 billion, a P/E ratio of 17.31 and a beta of 0.73.

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

IDT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders 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 yield of 0.37%. IDT's payout ratio is 6.33%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Park Square Financial Group LLC bought a new stake in IDT during the 4th quarter valued at approximately $44,000. Copeland Capital Management LLC purchased a new position in shares of IDT during the first quarter valued at approximately $57,000. AlphaQuest LLC lifted its holdings in shares of IDT by 700.0% during the first 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. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of IDT by 35.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider's stock valued at $116,000 after purchasing an additional 632 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of IDT during the fourth quarter valued at approximately $129,000. 59.34% of the stock is owned by institutional investors.

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.