Short Interest in PLDT Inc. (NYSE:PHI) Drops By 34.3%

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

Institutional Trading of PLDT

Several institutional investors and hedge funds have recently made changes to their positions in the business. Quantinno Capital Management LP lifted its holdings in shares of PLDT by 37.2% during the 3rd quarter. Quantinno Capital Management LP now owns 13,495 shares of the technology company’s stock valued at $363,000 after purchasing an additional 3,659 shares in the last quarter. Ascent Group LLC acquired a new position in shares of PLDT during the 3rd quarter worth approximately $218,000. BNP Paribas Financial Markets bought a new stake in PLDT during the third quarter worth $79,000. Robeco Institutional Asset Management B.V. grew its holdings in PLDT by 12.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 13,946 shares of the technology company’s stock worth $375,000 after purchasing an additional 1,565 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its stake in shares of PLDT by 15.1% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 10,570 shares of the technology company’s stock worth $284,000 after acquiring an additional 1,383 shares during the period. Institutional investors own 2.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

PLDT Stock Up 0.1 %

PHI traded up $0.03 on Thursday, reaching $22.07. 59,353 shares of the company traded hands, compared to its average volume of 53,275. The stock’s 50 day moving average price is $25.04 and its 200-day moving average price is $25.49. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.34 and a quick ratio of 0.32. 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 PEG ratio of 1.14 and a beta of 0.69.

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

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.