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

PLDT Inc. (NYSE:PHI) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totaling 768,907 shares, an increase of 72.3% from the September 30th total of 446,175 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average trading volume of 294,723 shares, the short-interest ratio is currently 2.6 days.

Analysts Set New Price Targets

Several research firms have recently weighed in on PHI. Zacks Research upgraded shares of PLDT from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Weiss Ratings lowered shares of PLDT from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, August 31st. TD Cowen restated a “hold” rating on shares of PLDT in a report on Thursday, August 13th. Finally, JPMorgan Chase & Co. cut shares of PLDT from an “overweight” rating to a “neutral” rating in a research report on Monday, August 17th. Four analysts have rated the stock with a Hold rating. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

PLDT Stock Performance

Shares of PHI stock opened at $17.81 on Tuesday. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 8.02, a PEG ratio of 2.64 and a beta of 0.64. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.43 and a current ratio of 0.44. PLDT has a 52 week low of $16.71 and a 52 week high of $24.51. The company has a 50-day simple moving average of $18.31 and a 200 day simple moving average of $19.97.

PLDT Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, September 25th. Stockholders of record on Thursday, August 27th were given a $0.7515 dividend. The ex-dividend date was Thursday, August 27th. This is a negative change from PLDT’s previous dividend of $0.7977. This represents a dividend yield of 841.0%. PLDT’s dividend payout ratio (DPR) is presently 49.10%.

Institutional Trading of PLDT

A number of institutional investors have recently modified their holdings of the stock. Quantinno Capital Management LP grew its holdings in shares of PLDT by 47.0% during the 1st quarter. Quantinno Capital Management LP now owns 121,103 shares of the technology company’s stock worth $2,548,000 after purchasing an additional 38,731 shares in the last quarter. Renaissance Technologies LLC raised its stake in PLDT by 1.3% in the first quarter. Renaissance Technologies LLC now owns 2,327,067 shares of the technology company’s stock valued at $48,961,000 after purchasing an additional 29,024 shares in the last quarter. Engineers Gate Manager LP raised its stake in PLDT by 40.3% in the second quarter. Engineers Gate Manager LP now owns 22,887 shares of the technology company’s stock valued at $401,000 after purchasing an additional 6,572 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in PLDT by 24.4% in the first quarter. PNC Financial Services Group Inc. now owns 26,494 shares of the technology company’s stock valued at $557,000 after purchasing an additional 5,205 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in PLDT by 40.8% during the first quarter. First Trust Advisors LP now owns 17,926 shares of the technology company’s stock worth $377,000 after purchasing an additional 5,197 shares during the period. 2.26% of the stock is currently owned by institutional investors.

PLDT Company Profile

PLDT Inc is a Philippine telecommunications and digital services company serving consumers, businesses and government institutions primarily throughout the Philippines. Its operations include fixed-line telephone services, mobile communications, broadband connectivity, wireless data and digital solutions.

Through its wireless subsidiary Smart Communications, PLDT provides mobile voice, messaging, data and broadband services. The company also offers fiber and other fixed broadband services through PLDT Home, while its enterprise business provides connectivity, information and communications technology services, cloud solutions, cybersecurity, data center services and other digital infrastructure offerings.

PLDT traces its origins to 1928, when the Philippine Long Distance Telephone Company was established.