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

PLDT Inc. (NYSE:PHI) was the target of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 209,900 shares, an increase of 33.7% from the February 28th total of 157,000 shares. Based on an average daily volume of 69,500 shares, the days-to-cover ratio is presently 3.0 days. Currently, 0.1% of the shares of the company are sold short.

PLDT Stock Performance

Shares of PLDT stock traded down $0.70 during trading hours on Wednesday, reaching $21.76. The company had a trading volume of 30,139 shares, compared to its average volume of 48,263. The firm has a market cap of $4.70 billion, a PE ratio of 8.31, a price-to-earnings-growth ratio of 1.14 and a beta of 0.68. PLDT has a one year low of $21.00 and a one year high of $29.05. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.34 and a quick ratio of 0.32. The business has a fifty day simple moving average of $23.24 and a 200 day simple moving average of $23.66.

PLDT (NYSE:PHI) last issued its quarterly earnings data on Thursday, March 13th. The technology company reported $0.67 EPS for the quarter. PLDT had a net margin of 12.34% and a return on equity of 22.11%. The company had revenue of $960.62 million during the quarter. On average, analysts anticipate that PLDT will post 2.76 earnings per share for the current fiscal year.

PLDT Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.812 per share. The ex-dividend date is Wednesday, March 12th. This represents a dividend yield of 5.4%. PLDT’s dividend payout ratio (DPR) is presently 44.66%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of PLDT from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 7th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new stake in PLDT during the third quarter valued at approximately $79,000. Ascent Group LLC bought a new stake in shares of PLDT during the 3rd quarter worth $218,000. Quantinno Capital Management LP grew its position in PLDT by 37.2% in the third quarter. Quantinno Capital Management LP now owns 13,495 shares of the technology company’s stock worth $363,000 after acquiring an additional 3,659 shares in the last quarter. Kathmere Capital Management LLC increased its stake in PLDT by 15.6% in the fourth quarter. Kathmere Capital Management LLC now owns 29,035 shares of the technology company’s stock valued at $643,000 after acquiring an additional 3,915 shares during the last quarter. Finally, Ballentine Partners LLC raised its position in PLDT by 12.5% during the fourth quarter. Ballentine Partners LLC now owns 14,448 shares of the technology company’s stock valued at $320,000 after purchasing an additional 1,610 shares in the last quarter. Hedge funds and other institutional investors own 2.26% of the company’s stock.

About PLDT

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.