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

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

IDT Trading Up 1.5 %

Shares of NYSE IDT opened at $47.76 on Wednesday. The company has a market capitalization of $1.21 billion, a P/E ratio of 16.36 and a beta of 0.81. IDT has a 12 month low of $32.08 and a 12 month high of $58.77. The stock has a 50 day moving average of $49.45 and a 200-day moving average of $42.26.

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

IDT Cuts Dividend

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

Insider Transactions at IDT

In other IDT news, CFO Marcelo Fischer sold 600 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 37,573 shares of the company’s stock, 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, 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 transaction, the executive vice president now owns 4,775 shares in the company, valued at approximately $256,608.50. The trade was a 17.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,698 shares of company stock worth $2,492,643 over the last quarter. Company insiders own 25.32% of the company’s stock.

Hedge Funds Weigh In On IDT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ritholtz Wealth Management acquired a new position in IDT during the second quarter valued at approximately $537,000. Point72 Asset Management L.P. raised its holdings 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 buying an additional 9,796 shares in the last quarter. Cerity Partners LLC lifted its position in shares of IDT by 121.7% during the 3rd quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider’s stock worth $3,653,000 after buying an additional 52,532 shares during the last quarter. FMR LLC boosted 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 buying an additional 17,725 shares in the last quarter. Finally, Summit Global Investments bought a new position in IDT in the third quarter valued at about $637,000. 59.34% of the stock is 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.