PLDT (NYSE:PHI) Sees Large Volume Increase – Should You Buy?

PLDT Inc. (NYSE:PHI) saw unusually-strong trading volume on Tuesday . Approximately 329,269 shares changed hands during mid-day 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 research firms have commented on PHI. Weiss Ratings lowered shares of PLDT from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, June 3rd. Zacks Research cut PLDT from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 21st. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

PLDT Price Performance

The stock has a market cap of $3.95 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 2.66 and a beta of 0.61. The company’s 50 day moving average is $18.68 and its 200 day moving average is $20.94. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.42 and a quick ratio of 0.40.

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

Insiders Place Their Bets

In related news, Director Alfredo Santos Panlilio sold 4,505 shares of PLDT stock in a transaction on Friday, April 10th. The stock was sold at an average price of $22.64, for a total transaction of $101,993.20. Following the completion of the transaction, the director directly owned 3,000 shares of the company’s stock, valued at approximately $67,920. The trade was a 60.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.73% of the stock is owned by insiders.

Hedge Funds Weigh In On PLDT

Several hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in shares of PLDT by 22.1% in the fourth quarter. CWM LLC now owns 2,590 shares of the technology company’s stock valued at $56,000 after buying an additional 469 shares during the period. Signaturefd LLC lifted its holdings in PLDT by 8.7% in the 4th quarter. Signaturefd LLC now owns 7,472 shares of the technology company’s stock valued at $162,000 after acquiring an additional 597 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of PLDT by 6.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 13,514 shares of the technology company’s stock valued at $253,000 after purchasing an additional 862 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of PLDT by 272.1% in 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in PLDT during the fourth quarter valued at approximately $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.