IDT (NYSE:IDT) Sets New 1-Year High – Here’s What Happened

IDT Corporation (NYSE:IDT) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $69.97 and last traded at $69.1530, with a volume of 7123 shares. The stock had previously closed at $68.94.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of IDT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

IDT Stock Performance

The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 20.91 and a beta of 0.62. The business has a fifty day simple moving average of $64.28 and a 200 day simple moving average of $55.98.

IDT (NYSE:IDT) last posted its earnings results on Wednesday, June 3rd. The utilities provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.05. The company had revenue of $315.71 million during the quarter, compared to the consensus estimate of $308.00 million. IDT had a return on equity of 24.36% and a net margin of 6.41%.

Insider Transactions at IDT

In other IDT news, CFO Marcelo Fischer sold 23,323 shares of IDT stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $56.98, for a total value of $1,328,944.54. Following the completion of the sale, the chief financial officer owned 32,824 shares in the company, valued at $1,870,311.52. The trade was a 41.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nadine Shea sold 500 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $55.32, for a total transaction of $27,660.00. Following the completion of the sale, the executive vice president directly owned 8,725 shares of the company’s stock, valued at $482,667. This represents a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 25.41% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On IDT

Several institutional investors have recently made changes to their positions in the stock. Nykredit A S acquired a new stake in IDT during the second quarter worth approximately $32,000. Public Employees Retirement System of Ohio acquired a new position in IDT in the 3rd quarter valued at $96,000. Gabelli Funds LLC acquired a new position in IDT in the 2nd quarter valued at $239,000. Corient Private Wealth LP acquired a new position in IDT in the 2nd quarter valued at $252,000. Finally, Entropy Technologies LP bought a new stake in shares of IDT during the 1st quarter valued at $264,000. 59.34% of the stock is currently owned by institutional investors.

IDT Company Profile

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.