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

Key Points

• PLDT Inc. saw a significant increase in short interest, rising by 28.2% in August, with total short interest reaching 342,600 shares.
• Several institutional investors increased their stakes in PLDT, with GAMMA Investing LLC showing the largest growth at 51.7%.
• PLDT declared a semi-annual dividend of $0.8414, representing a dividend yield of 530.0%, an increase from the previous dividend of $0.81.

PLDT Inc. (NYSE:PHI - Get Free Report) saw a significant growth in short interest in August. As of August 31st, there was short interest totaling 342,600 shares, a growth of 28.2% from the August 15th total of 267,200 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 86,900 shares, the short-interest ratio is currently 3.9 days. Based on an average daily trading volume, of 86,900 shares, the short-interest ratio is currently 3.9 days. Currently, 0.2% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wall Street Zen lowered shares of PLDT from a "buy" rating to a "hold" rating in a report on Friday, June 6th. Zacks Research raised PLDT to a "strong sell" rating in a report on Tuesday, August 12th. Finally, UBS Group lowered PLDT from a "buy" rating to a "neutral" rating in a report on Wednesday, August 27th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce".

PLDT Price Performance

Shares of NYSE PHI traded up $0.05 during mid-day trading on Friday, hitting $19.58. 324,797 shares of the stock were exchanged, compared to its average volume of 144,743. The company has a market cap of $4.23 billion, a P/E ratio of 7.56, a PEG ratio of 1.72 and a beta of 0.66. The stock's fifty day simple moving average is $21.67 and its two-hundred day simple moving average is $22.32. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.35 and a current ratio of 0.37. PLDT has a twelve month low of $19.22 and a twelve month high of $27.93.

PLDT Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, August 27th will be given a $0.8414 dividend. This represents a dividend yield of 530.0%. This is a boost from PLDT's previous semi-annual dividend of $0.81. The ex-dividend date is Wednesday, August 27th. PLDT's dividend payout ratio (DPR) is 47.10%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PHI. BNP Paribas Financial Markets grew its holdings in PLDT by 49.4% in the fourth quarter. BNP Paribas Financial Markets now owns 4,396 shares of the technology company's stock worth $97,000 after purchasing an additional 1,453 shares during the last quarter. Ascent Group LLC purchased a new position in PLDT during the first quarter worth approximately $320,000. Northern Trust Corp increased its stake in shares of PLDT by 1,189.5% in the fourth quarter. Northern Trust Corp now owns 138,992 shares of the technology company's stock worth $3,079,000 after buying an additional 128,213 shares during the last quarter. GAMMA Investing LLC grew its holdings in PLDT by 3,217.4% in the 1st quarter. GAMMA Investing LLC now owns 48,136 shares of the technology company's stock worth $1,053,000 after buying an additional 46,685 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of PLDT by 14.8% during the first quarter. Robeco Institutional Asset Management B.V. now owns 120,974 shares of the technology company's stock valued at $2,646,000 after acquiring an additional 15,610 shares during the period. 2.26% of the stock is owned by hedge funds and other institutional investors.

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.