PLDT (NYSE:PHI) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of PLDT Inc. (NYSE:PHI) saw unusually-high trading volume on Tuesday . 329,269 shares traded hands during trading, an increase of 143% from the previous session’s volume of 135,648 shares.The stock last traded at $18.23 and had previously closed at $18.12.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PHI. Zacks Research lowered PLDT from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 21st. Weiss Ratings lowered shares of PLDT from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, June 3rd. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

PLDT Stock Performance

The stock has a market capitalization of $3.95 billion, a PE ratio of 7.60, a P/E/G ratio of 2.66 and a beta of 0.61. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.40 and a current ratio of 0.42. The firm has a 50 day moving average of $18.68 and a 200-day moving average of $20.94.

PLDT (NYSE:PHI) last released its earnings results on Friday, May 15th. The technology company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. The company had revenue of $932.80 million for the quarter, compared to analysts’ expectations of $913.26 million. PLDT had a return on equity of 27.37% and a net margin of 13.62%. Research analysts forecast that PLDT Inc. will post 2.58 earnings per share for the current year.

Insider Buying and Selling

In other PLDT news, Director Alfredo Santos Panlilio sold 4,505 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $22.64, for a total value of $101,993.20. Following the transaction, the director owned 3,000 shares in the company, valued at approximately $67,920. This represents a 60.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On PLDT

Several institutional investors and hedge funds have recently modified their holdings of PHI. CWM LLC raised its holdings in shares of PLDT by 22.1% during the fourth quarter. CWM LLC now owns 2,590 shares of the technology company’s stock worth $56,000 after acquiring an additional 469 shares in the last quarter. Signaturefd LLC grew its stake in PLDT by 8.7% in the fourth quarter. Signaturefd LLC now owns 7,472 shares of the technology company’s stock valued at $162,000 after purchasing an additional 597 shares in the last quarter. Envestnet Asset Management Inc. increased its position in PLDT by 6.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 13,514 shares of the technology company’s stock worth $253,000 after purchasing an additional 862 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of PLDT by 272.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,306 shares of the technology company’s stock worth $28,000 after purchasing an additional 955 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of PLDT during the 4th quarter valued at about $26,000. 2.26% of the stock is currently owned by hedge funds and other institutional investors.

About PLDT

Philippine Long Distance Telephone Company (PLDT) is the largest integrated telecommunications provider in the Philippines, offering a comprehensive suite of fixed?line, wireless, broadband Internet, and digital solutions to residential, enterprise, and government customers. Founded in 1928, PLDT has played a pivotal role in the development of the country’s communications infrastructure, evolving from a traditional operator of long?distance telephone lines into a diversified digital services provider.

PLDT operates two main business segments: its fixed?line and broadband operations under the PLDT brand and its wireless services through subsidiary Smart Communications.