IDT (NYSE:IDT) Rating Lowered to Buy at StockNews.com

IDT (NYSE:IDT) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

IDT Stock Performance

NYSE IDT traded up $0.61 during trading on Tuesday, hitting $47.68. The stock had a trading volume of 65,631 shares, compared to its average volume of 86,037. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 16.33 and a beta of 0.78. The stock has a 50 day simple moving average of $49.30 and a 200 day simple moving average of $41.64. IDT has a one year low of $32.08 and a one year high of $58.77.

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

Insider Activity at IDT

In other IDT news, CFO Marcelo Fischer sold 600 shares of IDT stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $48.57, for a total transaction of $29,142.00. Following the completion of the sale, the chief financial officer now directly owns 37,573 shares in the company, valued at approximately $1,824,920.61. The trade was a 1.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Bill Pereira sold 29,175 shares of IDT stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $47.24, for a total value of $1,378,227.00. Following the transaction, the chief operating officer now owns 40,000 shares of the company’s stock, valued at approximately $1,889,600. This represents a 42.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,582 shares of company stock worth $1,686,308 over the last three months. 25.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IDT

A number of large investors have recently bought and sold shares of IDT. Renaissance Technologies LLC raised its holdings in shares of IDT by 2.7% during the second quarter. Renaissance Technologies LLC now owns 1,106,606 shares of the utilities provider’s stock valued at $39,749,000 after acquiring an additional 29,100 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of IDT by 0.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 589,315 shares of the utilities provider’s stock worth $22,494,000 after purchasing an additional 2,169 shares in the last quarter. Geode Capital Management LLC raised its stake in IDT by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 421,096 shares of the utilities provider’s stock valued at $16,077,000 after purchasing an additional 25,541 shares during the last quarter. State Street Corp lifted its holdings in IDT by 0.5% in the 3rd quarter. State Street Corp now owns 390,145 shares of the utilities provider’s stock valued at $14,911,000 after purchasing an additional 2,071 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in IDT by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 157,808 shares of the utilities provider’s stock worth $6,024,000 after purchasing an additional 6,183 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

About IDT

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.