IDT (NYSE:IDT) Stock Price Down 5.3% - Time to Sell?

IDT Co. (NYSE:IDT - Get Free Report)'s stock price was down 5.3% during trading on Monday . The company traded as low as $65.16 and last traded at $64.94. Approximately 77,052 shares traded hands during trading, a decline of 25% from the average daily volume of 102,695 shares. The stock had previously closed at $68.56.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of IDT from a "buy" rating to a "strong-buy" rating in a report on Tuesday, March 18th.

IDT Trading Down 2.8%

The firm has a market capitalization of $1.62 billion, a P/E ratio of 21.99 and a beta of 0.72. The company's fifty day simple moving average is $55.04 and its 200 day simple moving average is $51.08.

IDT (NYSE:IDT - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The utilities provider reported $0.87 EPS for the quarter. IDT had a net margin of 6.10% and a return on equity of 22.18%. The business had revenue of $301.98 million during the quarter.

IDT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 9th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.37%. IDT's dividend payout ratio (DPR) is presently 6.33%.

Insiders Place Their Bets

In other news, CTO David Wartell sold 10,735 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $48.99, for a total value of $525,907.65. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 25.32% of the company's stock.

Institutional Trading of IDT

A number of hedge funds and other institutional investors have recently modified their holdings of IDT. Nuveen LLC purchased a new stake in shares of IDT in the 1st quarter worth about $10,409,000. Millennium Management LLC grew its position in IDT by 392.6% during the 1st quarter. Millennium Management LLC now owns 163,830 shares of the utilities provider's stock valued at $8,406,000 after purchasing an additional 130,569 shares during the last quarter. Emmett Investment Management LP purchased a new stake in IDT during the 4th quarter valued at about $5,257,000. Deutsche Bank AG grew its position in IDT by 32.4% during the 4th quarter. Deutsche Bank AG now owns 330,616 shares of the utilities provider's stock valued at $15,711,000 after purchasing an additional 80,817 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in IDT by 209.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 86,741 shares of the utilities provider's stock valued at $4,451,000 after purchasing an additional 58,727 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

IDT Company Profile

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.