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

Key Points

• IDT shares crossed above their 200-day moving average on Thursday, trading as high as $63.82 and last changing hands at $62.54. The 200-day average was $52.42, and the stock traded on heavy volume of 280,099 shares.
• The company beat quarterly earnings and revenue estimates, reporting $0.94 EPS versus the $0.89 consensus and revenue of $315.71 million versus $308.00 million expected. IDT also posted a 6.41% net margin and 24.36% return on equity.
• Insiders have been selling shares, including CFO Marcelo Fischer, who sold more than 23,000 shares in late June. Despite this, institutional ownership remains high, with hedge funds and other institutions holding 59.34% of the stock.

IDT Corporation (NYSE:IDT - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $52.42 and traded as high as $63.82. IDT shares last traded at $62.54, with a volume of 280,099 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IDT shares. Wall Street Zen cut shares of IDT from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 3rd. Weiss Ratings upgraded shares of IDT from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, June 25th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, IDT presently has a consensus rating of "Hold".

IDT Stock Down 2.6%

The firm's 50 day simple moving average is $56.85 and its 200 day simple moving average is $52.42. The company has a market capitalization of $1.56 billion, a PE ratio of 19.13 and a beta of 0.64.

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

IDT Dividend Announcement

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

Insider Activity at IDT

In related news, CFO Marcelo Fischer sold 23,323 shares of the business's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $56.98, for a total transaction 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nadine Shea sold 500 shares of the company's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $55.32, for a total value of $27,660.00. Following the completion of the transaction, the executive vice president directly owned 8,725 shares in the company, valued at $482,667. This trade represents a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 25.41% of the company's stock.

Institutional Trading of IDT

A number of large investors have recently made changes to their positions in the stock. Entropy Technologies LP purchased a new position in IDT in the 1st quarter worth about $264,000. Bank of New York Mellon Corp boosted its position in IDT by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 117,607 shares of the utilities provider's stock valued at $5,774,000 after buying an additional 1,088 shares during the period. State of Tennessee Department of Treasury bought a new position in IDT in the 4th quarter worth about $268,000. Tudor Investment Corp ET AL grew its stake in IDT by 9.1% in the 4th quarter. Tudor Investment Corp ET AL now owns 16,274 shares of the utilities provider's stock worth $833,000 after acquiring an additional 1,364 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in IDT by 447.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 10,080 shares of the utilities provider's stock worth $516,000 after acquiring an additional 8,240 shares in the last quarter. 59.34% of the stock is 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.

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