Noteworthy Price Action: IDT Corporation on Focus After Trading At 52-Week Highs

Noteworthy Price Action: IDT Corporation on Focus After Trading At 52 Week Highs

The stock of IDT Corporation (NYSE:IDT) hit a new 52-week high and has $24.05 target or 9.00% above today’s $22.06 share price. The 6 months bullish chart indicates low risk for the $519.74M company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $24.05 price target is reached, the company will be worth $46.78 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 65,751 shares traded hands. IDT Corporation (NYSE:IDT) has risen 32.98% since April 20, 2016 and is uptrending. It has outperformed by 28.43% the S&P500.

According to Zacks Investment Research, “IDT Corporation, through its IDT Telecom subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to retail and wholesale customers worldwide. IDT Telecom, by means of its own national telecommunications backbone and fiber optic network infrastructure, provides its customers with integrated and competitively priced international and domestic long distance and domestic all-distance telephony and prepaid calling cards.”

Insitutional Activity: The institutional sentiment decreased to 1.36 in Q2 2016. Its down 0.14, from 1.5 in 2016Q1. The ratio dropped, as 6 funds sold all IDT Corporation shares owned while 26 reduced positions. 16 funds bought stakes while 32 increased positions. They now own 12.31 million shares or 0.73% more from 12.22 million shares in 2016Q1.
Mraz Amerine Assocs Incorporated has 0.07% invested in the company for 13,422 shares. Amer Century accumulated 503,118 shares or 0.01% of the stock. Vanguard Inc has 0% invested in the company for 2.26 million shares. Bridgeway Capital Mgmt accumulated 50,567 shares or 0.01% of the stock. Schwab Charles Inv Mngmt Incorporated holds 0% of its portfolio in IDT Corporation (NYSE:IDT) for 210,145 shares. Bnp Paribas Arbitrage Sa last reported 0% of its portfolio in the stock. Highbridge Capital Mngmt Lc has 0% invested in the company for 15,658 shares. Panagora Asset Mngmt accumulated 0.01% or 105,225 shares. Credit Suisse Ag last reported 28,303 shares in the company. Invesco Ltd last reported 0% of its portfolio in the stock. Aqr Management Ltd Liability Corp holds 0.01% of its portfolio in IDT Corporation (NYSE:IDT) for 251,974 shares. Millennium Management Limited Liability Corp reported 81,810 shares or 0% of all its holdings. Jpmorgan Chase last reported 225,392 shares in the company. Picton Mahoney Asset last reported 0.01% of its portfolio in the stock. Strs Ohio accumulated 0% or 46,300 shares.

Insider Transactions: Since June 14, 2016, the stock had 0 insider buys, and 11 selling transactions for $3.62 million net activity. JONAS HOWARD S sold $692,903 worth of IDT Corporation (NYSE:IDT) on Wednesday, October 19. COSENTINO ERIC F. sold $6,942 worth of stock or 400 shares. Shares for $231,369 were sold by PEREIRA BILL on Monday, October 17. MASON JOYCE J had sold 4,555 shares worth $80,452 on Tuesday, October 18.

More notable recent IDT Corporation (NYSE:IDT) news were published by: Prnewswire.com which released: “IDT Corporation Announces Investment in Cornerstone Pharmaceuticals” on November 10, 2016, also Marketwatch.com with their article: “IDT Corp. Cl B” published on October 08, 2010, Seekingalpha.com published: “IDT Corporation: Upcoming Spinoff To Unlock Hidden Sum Of The Parts Value” on November 25, 2015. More interesting news about IDT Corporation (NYSE:IDT) were released by: Seekingalpha.com and their article: “IDT Corporation’s (IDT) CEO Shmuel Jonas on Q3 2016 Results – Earnings Call …” published on June 02, 2016 as well as Nasdaq.com‘s news article titled: “IDT Corporation (IDT) Ex-Dividend Date Scheduled for October 06, 2016” with publication date: October 05, 2016.

IDT Company Profile

IDT Corporation, incorporated on December 22, 1995, is a holding firm with activities primarily in the telecommunications and payment industries. The Company’s divisions 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. The Company’s Consumer Phone Services segment provides consumer local and long distance services in certain states of the United States. The Telecom Platform Services and Consumer Phone Services divisions comprise the Company’s IDT Telecom division. The All Other segment includes its real estate holdings and other smaller businesses.

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