IDT (NYSE:IDT) Sets New 52-Week High - Should You Buy?

Key Points

• IDT shares reached a new 52-week high of $72.10 and last traded at $70.89, up 0.5%. The stock has a $1.76 billion market cap, a P/E ratio of 21.68, and trades above its 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: Weiss Ratings modestly upgraded IDT’s rating from “hold (c)” to “hold (c+),” while the overall consensus remains Hold.
• IDT’s CFO sold 23,323 shares, reducing his direct ownership by 41.54%, while institutional investors own 59.34% of the company and several firms recently initiated or increased positions.

IDT Corporation (NYSE:IDT - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $72.10 and last traded at $70.89, with a volume of 221368 shares trading hands. The stock had previously closed at $70.51.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded 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, According to MarketBeat.com, the company presently has a consensus rating of "Hold".

IDT Trading Up 0.5%

The stock has a market cap of $1.76 billion, a P/E ratio of 21.68 and a beta of 0.62. The company has a 50-day moving average price of $66.05 and a two-hundred day moving average price of $57.11.

Insider Buying and Selling

In other news, CFO Marcelo Fischer sold 23,323 shares of IDT 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 sale, the chief financial officer directly owned 32,824 shares in the company, valued at approximately $1,870,311.52. This trade represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 25.41% of the company's stock.

Institutional Investors Weigh In On IDT

Several large investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC bought a new position in IDT during the 2nd quarter worth about $25,000. Nykredit A S purchased a new position in IDT in the second quarter worth $32,000. Allworth Financial LP grew its stake in IDT by 531.1% during the 2nd quarter. Allworth Financial LP now owns 568 shares of the utilities provider's stock worth $33,000 after buying an additional 478 shares during the last quarter. Corient Private Wealth LP purchased a new stake in shares of IDT during the second quarter worth about $252,000. Finally, Entropy Technologies LP acquired a new position in IDT during the 1st quarter valued at approximately $264,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

IDT Company Profile

IDT Corporation is a telecommunications and financial technology company that provides communications, payment and business services to consumers, small businesses and retail customers. The company operates through brands and businesses focused on international calling, mobile top-ups, money transfers, cloud communications and retail technology.

Its BOSS Revolution platform offers international calling, prepaid wireless services, mobile recharging and international money transfers, primarily serving immigrant and international communities.

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