IDT (NYSE:IDT) Shares Cross Above 200 Day Moving Average – Here’s Why

Shares of IDT Co. (NYSE:IDT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $43.72 and traded as high as $47.73. IDT shares last traded at $47.45, with a volume of 49,856 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of IDT from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 1st.

IDT Stock Performance

The company’s fifty day simple moving average is $48.83 and its two-hundred day simple moving average is $43.72. The stock has a market capitalization of $1.20 billion, a P/E ratio of 16.25 and a beta of 0.81.

IDT (NYSE:IDT) last announced its earnings results on Wednesday, December 4th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter. IDT had a net margin of 6.10% and a return on equity of 22.18%.

IDT Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 24th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a dividend yield of 0.42%. IDT’s payout ratio is presently 6.85%.

Insiders Place Their Bets

In related news, CTO David Wartell sold 17,116 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $47.11, for a total transaction of $806,334.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nadine Shea sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $53.74, for a total transaction of $53,740.00. Following the sale, the executive vice president now owns 4,775 shares in the company, valued at $256,608.50. This represents a 17.32 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 25.32% of the company’s stock.

Institutional Trading of IDT

Large investors have recently made changes to their positions in the company. Cerity Partners LLC lifted its stake in IDT by 121.7% in the 3rd quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider’s stock valued at $3,653,000 after purchasing an additional 52,532 shares during the last quarter. Marshall Wace LLP bought a new position in IDT in the 2nd quarter valued at approximately $976,000. Geode Capital Management LLC lifted its stake in IDT by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 421,096 shares of the utilities provider’s stock valued at $16,077,000 after purchasing an additional 25,541 shares during the last quarter. Barclays PLC lifted its stake in IDT by 240.3% in the 3rd quarter. Barclays PLC now owns 27,066 shares of the utilities provider’s stock valued at $1,034,000 after purchasing an additional 19,112 shares during the last quarter. Finally, FMR LLC lifted its stake in IDT by 26.8% in the 3rd quarter. FMR LLC now owns 83,868 shares of the utilities provider’s stock valued at $3,201,000 after purchasing an additional 17,725 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

About IDT

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.