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

Key Points

• IDT shares rose above their 200-day moving average, trading as high as $67.80 versus the $54.43 average, with the stock last quoted near $66.71.
• The company exceeded quarterly expectations, reporting $0.94 in earnings per share and $315.71 million in revenue, while maintaining a $0.07 quarterly dividend yielding about 0.4%.
• Analyst sentiment remains cautious, with a consensus “Hold” rating; meanwhile, company executives recently sold shares, although institutional and insider ownership remains substantial.

Shares of IDT Corporation (NYSE:IDT - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $54.43 and traded as high as $67.80. IDT shares last traded at $66.7130, with a volume of 152,844 shares trading hands.

Analysts Set New Price Targets

IDT has been the subject of a number of research analyst reports. Weiss Ratings raised IDT from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, June 25th. Wall Street Zen downgraded IDT from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 3rd. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold".

IDT Stock Up 0.4%

The company has a market cap of $1.66 billion, a PE ratio of 20.40 and a beta of 0.60. The company's fifty day moving average is $61.22 and its 200-day moving average is $54.43.

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

IDT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Tuesday, June 9th were given 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 was Tuesday, June 9th. IDT's dividend payout ratio is 8.56%.

Insider Transactions at IDT

In other IDT news, CFO Marcelo Fischer sold 23,323 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer directly owned 32,824 shares of the company's stock, valued at approximately $1,870,311.52. This trade represents a 41.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nadine Shea sold 500 shares of the business's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $55.32, for a total value of $27,660.00. Following the sale, the executive vice president owned 8,725 shares of the company's stock, valued at approximately $482,667. This represents a 5.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 25.41% of the stock is currently owned by corporate insiders.

Institutional Trading of IDT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IDT. Kahn Brothers Group Inc. bought a new position in IDT in the second quarter worth approximately $20,453,000. Public Employees Retirement System of Ohio purchased a new stake in shares of IDT in the 2nd quarter worth $596,000. Entropy Technologies LP purchased a new stake in shares of IDT in the 1st quarter worth $264,000. Bank of New York Mellon Corp raised its holdings 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 worth $5,774,000 after purchasing an additional 1,088 shares during the period. Finally, State of Tennessee Department of Treasury bought a new position in IDT in the 4th quarter worth $268,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

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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