IDT (NYSE:IDT) Shares Gap Up - Still a Buy?

IDT Co. (NYSE:IDT - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $46.19, but opened at $47.32. IDT shares last traded at $49.77, with a volume of 26,711 shares changing hands.

Wall Street Analysts Forecast Growth

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

IDT Price Performance

The company has a 50-day moving average price of $47.78 and a 200-day moving average price of $45.93. The firm has a market capitalization of $1.29 billion, a PE ratio of 17.45 and a beta of 0.84.

IDT (NYSE:IDT - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%. The business had revenue of $303.35 million for the quarter.

IDT Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 24th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a dividend yield of 0.42%. IDT's dividend payout ratio is currently 6.35%.

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Insider Activity

In related news, CTO David Wartell sold 17,116 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $47.11, for a total transaction of $806,334.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nadine Shea sold 1,000 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $53.74, for a total value of $53,740.00. Following the transaction, the executive vice president now owns 4,775 shares in the company, valued at $256,608.50. This trade represents a 17.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 25.32% of the company's stock.

Hedge Funds Weigh In On IDT

Several large investors have recently added to or reduced their stakes in the business. Park Square Financial Group LLC purchased a new position in shares of IDT in the 4th quarter worth about $44,000. New York State Teachers Retirement System acquired a new position in shares of IDT in the 3rd quarter valued at about $54,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of IDT by 35.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider's stock valued at $116,000 after purchasing an additional 632 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of IDT in the 4th quarter valued at about $129,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of IDT in the 4th quarter valued at about $134,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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.