PLDT Inc. (NYSE:PHI) Sees Large Decrease in Short Interest

PLDT Inc. (NYSE:PHI) was the target of a large decrease in short interest in November. As of November 15th, there was short interest totalling 123,200 shares, a decrease of 34.3% from the October 31st total of 187,500 shares. Based on an average daily volume of 45,000 shares, the short-interest ratio is presently 2.7 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded PLDT from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 14th.

Hedge Funds Weigh In On PLDT

A number of large investors have recently modified their holdings of PHI. Allspring Global Investments Holdings LLC purchased a new position in shares of PLDT during the third quarter worth approximately $28,000. GAMMA Investing LLC grew its holdings in shares of PLDT by 48.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,198 shares of the technology company’s stock worth $32,000 after acquiring an additional 390 shares during the period. EverSource Wealth Advisors LLC lifted its position in PLDT by 141.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,396 shares of the technology company’s stock valued at $33,000 after buying an additional 819 shares during the period. BNP Paribas Financial Markets purchased a new position in PLDT during the 3rd quarter valued at about $79,000. Finally, Blue Trust Inc. boosted its position in shares of PLDT by 392.6% in the 2nd quarter. Blue Trust Inc. now owns 4,709 shares of the technology company’s stock worth $116,000 after purchasing an additional 3,753 shares in the last quarter. 2.26% of the stock is currently owned by institutional investors.

PLDT Stock Up 0.1 %

PHI stock traded up $0.03 during midday trading on Thursday, reaching $22.07. 59,353 shares of the company’s stock traded hands, compared to its average volume of 53,275. PLDT has a 52 week low of $21.52 and a 52 week high of $30.39. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 8.55, a P/E/G ratio of 1.14 and a beta of 0.69. The company has a quick ratio of 0.32, a current ratio of 0.34 and a debt-to-equity ratio of 2.24. The firm’s fifty day moving average price is $25.04 and its 200-day moving average price is $25.49.

PLDT (NYSE:PHI) last released its earnings results on Tuesday, November 12th. The technology company reported $0.68 EPS for the quarter. The company had revenue of $933.44 million for the quarter. PLDT had a return on equity of 22.11% and a net margin of 12.34%. As a group, sell-side analysts forecast that PLDT will post 2.76 earnings per share for the current fiscal year.

PLDT Company Profile

PLDT Inc provides telecommunications and digital services in the Philippines. The company operates through three segments: Wireless, Fixed Line, and Others. It offers cellular mobile, Internet broadband distribution, operations support, software development, and satellite information and messaging services; and sells Wi-Fi access equipment.