BidaskClub downgraded shares of IDT Corporation (NYSE:IDT) from a buy rating to a hold rating in a research note issued to investors on Tuesday.
Separately, TheStreet upgraded IDT Corporation from a c+ rating to a b- rating in a research note on Friday, June 16th.
IDT Corporation (NYSE IDT) traded up 2.24% on Tuesday, reaching $14.13. 47,381 shares of the company were exchanged. The stock has a 50 day moving average of $14.73 and a 200 day moving average of $15.41. The firm has a market capitalization of $350.93 million, a PE ratio of 11.22 and a beta of 1.13. IDT Corporation has a 12-month low of $12.03 and a 12-month high of $23.13.
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In other news, Chairman Howard S. Jonas acquired 1,000,000 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were acquired at an average cost of $14.93 per share, for a total transaction of $14,930,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Judah Schorr acquired 4,000 shares of the stock in a transaction that occurred on Friday, June 30th. The stock was purchased at an average price of $14.29 per share, for a total transaction of $57,160.00. Following the completion of the purchase, the director now directly owns 69,287 shares in the company, valued at approximately $990,111.23. The disclosure for this purchase can be found here. Insiders purchased a total of 1,037,000 shares of company stock worth $15,463,460 over the last 90 days. 12.80% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in IDT. Old West Investment Management LLC purchased a new stake in shares of IDT Corporation during the second quarter worth about $2,719,000. Nationwide Fund Advisors boosted its stake in shares of IDT Corporation by 20.5% in the second quarter. Nationwide Fund Advisors now owns 59,969 shares of the utilities provider’s stock worth $862,000 after buying an additional 10,193 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of IDT Corporation during the second quarter worth about $227,000. Kennedy Capital Management Inc. purchased a new stake in shares of IDT Corporation during the second quarter worth about $2,115,000. Finally, Seizert Capital Partners LLC boosted its stake in shares of IDT Corporation by 68.7% in the second quarter. Seizert Capital Partners LLC now owns 168,864 shares of the utilities provider’s stock worth $2,427,000 after buying an additional 68,771 shares in the last quarter. Institutional investors and hedge funds own 51.98% of the company’s stock.
IDT Corporation Company Profile
IDT Corporation is a holding company with operations primarily in the telecommunications and payment industries. The Company’s segments include Telecom Platform Services, Consumer Phone Services and All Other. The Company’s Telecom Platform Services segment provides retail telecommunications and payment offerings, as well as wholesale international long distance traffic termination.
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