IDT (NYSE:IDT) Stock Crosses Above 200 Day Moving Average - Here's Why

IDT Co. (NYSE:IDT - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $43.72 and traded as high as $47.73. IDT shares last traded at $47.45, with a volume of 49,856 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of IDT from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, January 1st.

IDT Stock Performance

The firm's 50-day simple moving average is $48.70 and its 200 day simple moving average is $43.92. The stock has a market capitalization of $1.19 billion, a P/E ratio of 16.19 and a beta of 0.80.

IDT (NYSE:IDT - Get Free Report) last issued its earnings results on Wednesday, December 4th. The utilities provider reported $0.69 earnings per share (EPS) 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. Stockholders of record on Tuesday, December 24th were issued a $0.05 dividend. The ex-dividend date was Monday, December 23rd. This represents a dividend yield of 0.42%. IDT's payout ratio is 6.85%.

Insider Activity

In other IDT news, EVP Nadine Shea sold 1,000 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $53.74, for a total value of $53,740.00. Following the transaction, the executive vice president now directly owns 4,775 shares of the company's stock, valued at $256,608.50. This represents a 17.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO David Wartell sold 17,116 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $47.11, for a total transaction of $806,334.76. The disclosure for this sale can be found here. 25.32% of the stock is owned by insiders.

Institutional Trading of IDT

Several large investors have recently made changes to their positions in the company. New York State Common Retirement Fund boosted its position in shares of IDT by 26.0% during the 4th quarter. New York State Common Retirement Fund now owns 5,329 shares of the utilities provider's stock worth $253,000 after acquiring an additional 1,100 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of IDT by 8.5% during the 4th quarter. Principal Financial Group Inc. now owns 6,097 shares of the utilities provider's stock worth $290,000 after acquiring an additional 477 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of IDT by 37.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 28,014 shares of the utilities provider's stock worth $1,331,000 after acquiring an additional 7,620 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of IDT during the 4th quarter worth approximately $242,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of IDT during the 4th quarter worth approximately $286,000. Institutional investors and hedge funds own 59.34% of the company's stock.

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.