IDT (NYSE:IDT) Cut to Buy at StockNews.com

StockNews.com downgraded shares of IDT (NYSE:IDT) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday.

IDT Price Performance

Shares of IDT stock opened at $48.20 on Tuesday. The company’s fifty day moving average price is $49.32 and its two-hundred day moving average price is $41.75. The firm has a market capitalization of $1.22 billion, a PE ratio of 16.51 and a beta of 0.78. IDT has a 52-week low of $32.08 and a 52-week high of $58.77.

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

IDT Cuts Dividend

The company also recently announced a dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 24th will be issued a $0.05 dividend. This represents a dividend yield of 0.42%. The ex-dividend date is Monday, December 23rd. IDT’s payout ratio is 6.85%.

Insider Activity at IDT

In related news, COO Bill Pereira sold 29,175 shares of IDT stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $47.24, for a total value of $1,378,227.00. Following the completion of the transaction, the chief operating officer now directly owns 40,000 shares of the company’s stock, valued at $1,889,600. The trade was a 42.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Marcelo Fischer sold 600 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $48.57, for a total transaction of $29,142.00. Following the sale, the chief financial officer now directly owns 37,573 shares in the company, valued at approximately $1,824,920.61. This represents a 1.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,698 shares of company stock valued at $2,492,643 in the last ninety days. Insiders own 25.32% of the company’s stock.

Hedge Funds Weigh In On IDT

A number of large investors have recently modified their holdings of the stock. New York State Teachers Retirement System acquired a new stake in shares of IDT in the third quarter valued at approximately $54,000. Point72 Asset Management L.P. increased its stake in shares of IDT by 176.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,600 shares of the utilities provider’s stock valued at $129,000 after buying an additional 2,300 shares during the period. XTX Topco Ltd bought a new stake in shares of IDT during the second quarter worth $203,000. Versor Investments LP acquired a new position in shares of IDT during the third quarter valued at $213,000. Finally, Principal Financial Group Inc. lifted its stake in shares of IDT by 9.3% during the second quarter. Principal Financial Group Inc. now owns 7,332 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 625 shares during the period. 59.34% of the stock is currently 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.