IDT (NYSE:IDT) Stock Rating Lowered by StockNews.com

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

IDT Stock Performance

Shares of IDT stock opened at $47.68 on Tuesday. IDT has a 52 week low of $32.08 and a 52 week high of $58.77. The company’s 50 day moving average price is $49.30 and its two-hundred day moving average price is $41.64. The company has a market capitalization of $1.20 billion, a P/E ratio of 16.33 and a beta of 0.78.

IDT (NYSE:IDT) last issued its quarterly earnings data on Tuesday, October 8th. The utilities provider reported $0.51 EPS for the quarter. The business 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 disclosed a dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 24th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 23rd. This represents a dividend yield of 0.42%. IDT’s payout ratio is presently 6.85%.

Insider Activity at IDT

In other news, CFO Marcelo Fischer sold 600 shares of the firm’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 transaction of $29,142.00. Following the completion of the transaction, the chief financial officer now directly owns 37,573 shares of the company’s stock, valued at $1,824,920.61. This trade represents a 1.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nadine Shea sold 1,000 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 4,775 shares in the company, valued at approximately $256,608.50. This represents a 17.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,582 shares of company stock valued at $1,686,308. 25.32% of the stock is owned by insiders.

Hedge Funds Weigh In On IDT

A number of large investors have recently modified their holdings of IDT. New York State Teachers Retirement System acquired a new stake in shares of IDT in the third quarter valued at about $54,000. Point72 Asset Management L.P. increased its position in shares of IDT by 176.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,600 shares of the utilities provider’s stock worth $129,000 after purchasing an additional 2,300 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of IDT during the 2nd quarter worth approximately $203,000. Versor Investments LP bought a new stake in shares of IDT during the 3rd quarter worth approximately $213,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of IDT by 9.3% in the 2nd quarter. Principal Financial Group Inc. now owns 7,332 shares of the utilities provider’s stock valued at $263,000 after buying an additional 625 shares during the last quarter. 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.