IDT (NYSE:IDT) Reaches New 52-Week High at $38.70

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

Analyst Ratings Changes

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

IDT Trading Up 2.3 %

The firm has a 50 day simple moving average of $37.28 and a 200 day simple moving average of $33.97. The firm has a market capitalization of $987.42 million, a PE ratio of 26.82 and a beta of 0.99.

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

IDT Cuts Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.51%. IDT’s dividend payout ratio (DPR) is 13.79%.

Insider Buying and Selling

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

Institutional Trading of IDT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC bought a new stake in shares of IDT during the 1st quarter valued at $23,276,000. Russell Investments Group Ltd. grew its holdings in IDT by 163.3% during the fourth quarter. Russell Investments Group Ltd. now owns 94,905 shares of the utilities provider’s stock valued at $3,235,000 after purchasing an additional 58,859 shares during the period. Algert Global LLC increased its position in IDT by 91.5% in the third quarter. Algert Global LLC now owns 99,775 shares of the utilities provider’s stock worth $2,200,000 after buying an additional 47,670 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its stake in shares of IDT by 397.1% in the third quarter. Campbell & CO Investment Adviser LLC now owns 41,492 shares of the utilities provider’s stock worth $915,000 after buying an additional 33,146 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of IDT by 38.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 91,558 shares of the utilities provider’s stock valued at $2,019,000 after buying an additional 25,575 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

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.