IDT (NYSE:IDT) Reaches New 12-Month High – Still a Buy?

IDT Corporation (NYSE:IDT)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $70.00 and last traded at $68.5290, with a volume of 170823 shares changing hands. The stock had previously closed at $68.83.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised 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, IDT presently has an average rating of “Hold”.

IDT Stock Performance

The firm has a market cap of $1.70 billion, a P/E ratio of 20.96 and a beta of 0.62. The company has a 50 day moving average of $65.19 and a 200 day moving average of $56.54.

Insider Transactions at IDT

In other IDT news, CFO Marcelo Fischer sold 23,323 shares of the business’s stock in a transaction that occurred on 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 directly owned 32,824 shares of the company’s stock, valued at $1,870,311.52. The trade was a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 25.41% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System lifted its stake in shares of IDT by 6,831.1% in the 2nd quarter. California State Teachers Retirement System now owns 1,340,821 shares of the utilities provider’s stock valued at $77,982,000 after purchasing an additional 1,321,476 shares during the last quarter. Cooke & Bieler LP bought a new position in IDT during the fourth quarter valued at about $20,030,000. Kahn Brothers Group Inc. bought a new position in IDT during the second quarter valued at about $18,292,990,000. Millennium Management LLC lifted its position in shares of IDT by 392.6% in the first quarter. Millennium Management LLC now owns 163,830 shares of the utilities provider’s stock worth $8,406,000 after buying an additional 130,569 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of IDT by 22.1% in the fourth quarter. Geode Capital Management LLC now owns 559,849 shares of the utilities provider’s stock worth $28,675,000 after buying an additional 101,268 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

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.