IDT (NYSE:IDT) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of IDT (NYSE:IDT) from a buy rating to a strong-buy rating in a report released on Wednesday.

IDT Stock Up 0.5 %

NYSE:IDT opened at $47.52 on Wednesday. The firm’s fifty day simple moving average is $49.41 and its 200-day simple moving average is $42.15. The stock has a market cap of $1.20 billion, a PE ratio of 16.27 and a beta of 0.78. IDT has a fifty-two week low of $32.08 and a fifty-two week high of $58.77.

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

IDT Cuts Dividend

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

Insider Transactions at IDT

In related news, CTO David Wartell sold 17,116 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $47.11, for a total value of $806,334.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Bill Pereira sold 29,175 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $47.24, for a total value of $1,378,227.00. Following the transaction, the chief operating officer now directly owns 40,000 shares of the company’s stock, valued at $1,889,600. The trade was a 42.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,698 shares of company stock valued at $2,492,643 in the last 90 days. 25.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On IDT

Several hedge funds have recently modified their holdings of IDT. Ritholtz Wealth Management purchased a new position in shares of IDT during the second quarter valued at approximately $537,000. Point72 Asset Management L.P. lifted its stake in shares of IDT by 272.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 13,396 shares of the utilities provider’s stock worth $511,000 after purchasing an additional 9,796 shares during the period. Cerity Partners LLC grew its position in shares of 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 purchasing an additional 52,532 shares during the period. FMR LLC increased its stake in IDT by 26.8% in the third 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. Finally, Summit Global Investments purchased a new position in IDT during the third quarter worth about $637,000. 59.34% of the stock is owned by institutional investors and hedge funds.

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.