IDT (NYSE:IDT) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of IDT (NYSE:IDT) from a strong-buy rating to a buy rating in a report issued on Saturday morning.

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of IDT in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, IDT presently has a consensus rating of “Hold”.

IDT Trading Down 1.6%

Shares of IDT stock opened at $50.63 on Friday. IDT has a 12-month low of $45.35 and a 12-month high of $71.12. The business’s fifty day simple moving average is $49.89 and its 200-day simple moving average is $52.84. The company has a market cap of $1.27 billion, a PE ratio of 15.72 and a beta of 0.76.

Insider Transactions at IDT

In other IDT news, CFO Marcelo Fischer sold 7,009 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $52.03, for a total transaction of $364,678.27. Following the transaction, the chief financial officer owned 56,863 shares in the company, valued at approximately $2,958,581.89. This represents a 10.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 8,570 shares of company stock worth $446,073. Corporate insiders own 25.41% of the company’s stock.

Institutional Investors Weigh In On IDT

Large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new position in shares of IDT in the 3rd quarter valued at $96,000. Gabelli Funds LLC acquired a new stake in IDT during the 2nd quarter worth about $239,000. State of Tennessee Department of Treasury acquired a new stake in IDT during the 4th quarter worth about $268,000. Ameriprise Financial Inc. purchased a new stake in IDT during the 3rd quarter valued at about $399,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in IDT by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,156 shares of the utilities provider’s stock valued at $470,000 after purchasing an additional 381 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

About IDT

IDT Corporation, founded in 1990 and headquartered in Newark, New Jersey, is a diversified global provider of telecommunications and payment services. The company operates through its primary communications arm, IDT Telecom, and a digital solutions segment that encompasses cross-border money transfers and related fintech offerings. Since its inception, IDT has built an international network infrastructure to support voice and data transmission across more than 200 countries and territories.

Through IDT Telecom, the company offers a suite of voice communication products, including prepaid phone cards, VoIP services, SIP trunking and operator-assisted calling.