IDT (NYSE:IDT) Stock Price Crosses Above 200-Day Moving Average - What's Next?

IDT Corporation (NYSE:IDT - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $53.03 and traded as high as $66.12. IDT shares last traded at $65.8640, with a volume of 213,287 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IDT shares. Wall Street Zen cut IDT from a "strong-buy" rating to a "buy" rating in a research report 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 investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

IDT Price Performance

The company's 50 day simple moving average is $58.48 and its 200 day simple moving average is $53.03. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 20.14 and a beta of 0.64.

IDT (NYSE:IDT - Get Free Report) last issued its earnings results on Wednesday, June 3rd. The utilities provider reported $0.94 earnings per share for the quarter, beating 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 firm had revenue of $315.71 million for the quarter, compared to analysts' expectations of $308.00 million.

IDT Dividend Announcement

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

Insider Activity

In other IDT news, CFO Marcelo Fischer sold 23,323 shares of IDT stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $56.98, for a total value of $1,328,944.54. Following the sale, the chief financial officer owned 32,824 shares of the company's stock, valued at approximately $1,870,311.52. The trade was a 41.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nadine Shea sold 500 shares of the business's stock in a transaction that occurred 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 owned 8,725 shares in the company, valued at $482,667. The trade was a 5.42% decrease in their position. 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

A number of institutional investors and hedge funds have recently made changes to their positions in IDT. Public Employees Retirement System of Ohio acquired a new stake in shares of IDT in the third quarter valued at about $96,000. Gabelli Funds LLC purchased a new position in IDT in the second quarter valued at about $239,000. Entropy Technologies LP acquired a new stake in shares of IDT during the 1st quarter valued at approximately $264,000. State of Tennessee Department of Treasury acquired a new stake in shares of IDT during the 4th quarter valued at approximately $268,000. Finally, Ameriprise Financial Inc. purchased a new stake in shares of IDT during the 3rd quarter worth approximately $399,000. 59.34% of the stock is owned by institutional investors and hedge funds.

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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