IDT (NYSE:IDT) Downgraded by StockNews.com to Buy

StockNews.com lowered shares of IDT (NYSE:IDT) from a strong-buy rating to a buy rating in a research report report published on Tuesday.

IDT Trading Up 1.3 %

Shares of IDT stock opened at $47.68 on Tuesday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 16.33 and a beta of 0.78. The firm’s 50-day moving average price is $49.30 and its two-hundred day moving average price is $41.64. IDT has a 1-year low of $32.08 and a 1-year high of $58.77.

IDT (NYSE:IDT) last released its quarterly earnings results on Tuesday, October 8th. The utilities provider reported $0.51 EPS for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%. The business had revenue of $308.83 million for the quarter.

IDT Cuts Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 24th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 23rd. This represents a dividend yield of 0.42%. IDT’s dividend payout ratio is 6.85%.

Insider Buying and Selling

In related news, CFO Marcelo Fischer sold 600 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $48.57, for a total value of $29,142.00. Following the completion of the transaction, the chief financial officer now owns 37,573 shares in the company, valued at $1,824,920.61. The trade was a 1.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Bill Pereira sold 29,175 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $47.24, for a total value of $1,378,227.00. Following the completion of the transaction, the chief operating officer now owns 40,000 shares in the company, valued at $1,889,600. The trade was a 42.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,582 shares of company stock worth $1,686,308 in the last 90 days. Corporate insiders own 25.32% of the company’s stock.

Institutional Trading of IDT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IDT. Cerity Partners LLC boosted its stake in IDT by 121.7% in the third quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider’s stock valued at $3,653,000 after acquiring an additional 52,532 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of IDT by 2.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,106,606 shares of the utilities provider’s stock worth $39,749,000 after purchasing an additional 29,100 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of IDT during the second quarter worth $976,000. Geode Capital Management LLC increased its holdings in IDT by 6.5% in the third 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. Finally, Americana Partners LLC acquired a new position in IDT in the second quarter valued at about $898,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.