IDT (NYSE:IDT) Reaches New 1-Year High at $38.70

IDT Co. (NYSE:IDT) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $38.70 and last traded at $38.46, with a volume of 7631 shares. The stock had previously closed at $38.13.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded IDT from a “hold” rating to a “buy” rating in a report on Thursday, March 7th.

IDT Stock Performance

The stock’s 50 day moving average price is $37.23 and its 200 day moving average price is $33.84. The company has a market capitalization of $967.36 million, a P/E ratio of 26.30 and a beta of 0.99.

IDT (NYSE:IDT) last released its earnings results on Wednesday, March 6th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter. IDT had a net margin of 3.08% and a return on equity of 20.18%. The business had revenue of $296.10 million for the quarter.

IDT Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.52%. IDT’s payout ratio is 13.79%.

Insider Buying and Selling

In other IDT news, CAO Mitch Silberman sold 2,115 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $38.01, for a total transaction of $80,391.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other IDT news, CAO Mitch Silberman sold 2,115 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $38.01, for a total value of $80,391.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Bill Pereira sold 15,647 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $37.95, for a total transaction of $593,803.65. Following the transaction, the chief operating officer now owns 49,999 shares in the company, valued at approximately $1,897,462.05. The disclosure for this sale can be found here. Insiders sold 18,192 shares of company stock valued at $690,075 over the last 90 days. Company insiders own 15.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IDT. New York State Teachers Retirement System bought a new position in shares of IDT in the third quarter valued at $30,000. Allspring Global Investments Holdings LLC boosted its stake in IDT by 46.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,314 shares of the utilities provider’s stock valued at $205,000 after purchasing an additional 2,966 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in IDT by 3.8% during the 3rd quarter. Panagora Asset Management Inc. now owns 66,275 shares of the utilities provider’s stock valued at $1,461,000 after purchasing an additional 2,452 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in IDT by 63.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 34,263 shares of the utilities provider’s stock worth $756,000 after purchasing an additional 13,339 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of IDT by 38.8% in the third quarter. Assenagon Asset Management S.A. now owns 91,558 shares of the utilities provider’s stock worth $2,019,000 after purchasing an additional 25,575 shares during the last quarter. Institutional investors 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.