IDT (NYSE:IDT) Upgraded to Strong-Buy at StockNews.com

IDT (NYSE:IDT) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday.

IDT Stock Down 0.9 %

IDT opened at $47.07 on Wednesday. IDT has a 52 week low of $32.08 and a 52 week high of $58.77. The stock has a market cap of $1.19 billion, a PE ratio of 16.12 and a beta of 0.78. The business has a 50 day moving average of $49.42 and a 200-day moving average of $42.18.

IDT (NYSE:IDT) last announced its quarterly earnings data on Tuesday, October 8th. The utilities provider reported $0.51 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 $308.83 million during the quarter.

Insider Buying and Selling at IDT

In other news, EVP Joyce J. Mason sold 2,094 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $46.18, for a total value of $96,700.92. Following the sale, the executive vice president now directly owns 21,878 shares of the company’s stock, valued at approximately $1,010,326.04. This represents a 8.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 approximately $1,889,600. This represents a 42.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,698 shares of company stock valued at $2,492,643. Corporate insiders own 25.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cerity Partners LLC raised its holdings in IDT by 121.7% in the 3rd quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider’s stock worth $3,653,000 after acquiring an additional 52,532 shares during the last quarter. Renaissance Technologies LLC boosted its stake in IDT by 2.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,106,606 shares of the utilities provider’s stock valued at $39,749,000 after purchasing an additional 29,100 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of IDT in the 2nd quarter worth $976,000. Geode Capital Management LLC raised its stake in shares of IDT by 6.5% in the third quarter. Geode Capital Management LLC now owns 421,096 shares of the utilities provider’s stock worth $16,077,000 after purchasing an additional 25,541 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of IDT by 240.3% during the third quarter. Barclays PLC now owns 27,066 shares of the utilities provider’s stock valued at $1,034,000 after purchasing an additional 19,112 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

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.