IDT (NYSE:IDT) Stock Crosses Above 200 Day Moving Average - Here's Why

Key Points

• IDT shares crossed above their 200-day moving average, trading as high as $52.09 and last at $51.29 versus a 200‑day average of $49.88.
• Fundamentals beat expectations: the company reported $1.00 EPS vs. $0.90 expected and $320.5M revenue vs. $302M expected, and increased its quarterly dividend to $0.07 (annualized $0.28).
• Insiders sold stock: EVP Menachem Ash sold 20,000 shares and the CFO sold 5,000 shares, trimming their ownership amid overall insider ownership of 25.41% and institutional ownership of 59.34%.

Shares of IDT Corporation (NYSE:IDT - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $49.88 and traded as high as $52.09. IDT shares last traded at $51.29, with a volume of 87,301 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on IDT shares. Wall Street Zen lowered shares of IDT from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 7th. Weiss Ratings reiterated a "hold (c+)" rating on shares of IDT in a report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold".

IDT Stock Down 1.3%

The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 15.73 and a beta of 0.70. The company's 50 day moving average is $49.72 and its 200 day moving average is $49.88.

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

IDT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 19th were issued a dividend of $0.07 per share. This is an increase from IDT's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, March 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. IDT's payout ratio is currently 8.59%.

Insiders Place Their Bets

In related news, EVP Menachem Ash sold 20,000 shares of the company's stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $51.00, for a total transaction of $1,020,000.00. Following the completion of the sale, the executive vice president owned 32,243 shares of the company's stock, valued at $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 SEC, which is available through the SEC website. Also, CFO Marcelo Fischer sold 5,000 shares of the stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $50.50, for a total transaction of $252,500.00. Following the sale, the chief financial officer owned 56,147 shares in the company, valued at $2,835,423.50. The trade was a 8.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 25.41% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IDT

Several hedge funds and other institutional investors have recently made changes to their positions in IDT. Public Employees Retirement System of Ohio bought a new position in IDT in the third quarter valued at approximately $96,000. Gabelli Funds LLC bought a new stake in IDT during the second quarter worth $239,000. State of Tennessee Department of Treasury acquired a new stake in shares of IDT in the 4th quarter valued at $268,000. Ameriprise Financial Inc. acquired a new stake in shares of IDT in the 3rd quarter valued at $399,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of IDT by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,156 shares of the utilities provider's stock valued at $470,000 after purchasing an additional 381 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

IDT Company Profile

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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