PLDT (NYSE:PHI) Hits New 1-Year Low - Here's What Happened

Key Points

• PLDT shares hit a new 52-week low, trading as low as $16.51 and last at $16.448, down 5.8% from the prior close of $17.70.
• Analyst sentiment is broadly cautious: MarketBeat reports an average “Hold” rating, with JPMorgan cutting its rating from “Overweight” to “Neutral” and Weiss Ratings lowering its grade.
• Institutional investors reported mixed position changes, with several increasing their holdings; institutions collectively own 2.26% of PLDT’s stock.

PLDT Inc. (NYSE:PHI - Get Free Report) shares reached a new 52-week low on Thursday. The company traded as low as $16.51 and last traded at $16.4480, with a volume of 16,708 shares traded. The stock had previously closed at $17.70.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PHI shares. TD Cowen reissued a "hold" rating on shares of PLDT in a research report on Thursday, August 13th. Weiss Ratings lowered shares of PLDT from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, August 31st. JPMorgan Chase & Co. cut shares of PLDT from an "overweight" rating to a "neutral" rating in a research note on Monday, August 17th. Finally, Zacks Research raised shares of PLDT from a "strong sell" rating to a "hold" rating in a report on Monday, July 20th. Four analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company has an average rating of "Hold".

PLDT Trading Down 5.8%

The firm has a market capitalization of $3.60 billion, a P/E ratio of 7.52, a PEG ratio of 1.92 and a beta of 0.65. The company has a quick ratio of 0.43, a current ratio of 0.44 and a debt-to-equity ratio of 1.98. The firm has a 50 day moving average of $18.22 and a 200-day moving average of $19.81.

Institutional Trading of PLDT

A number of institutional investors have recently modified their holdings of the stock. Signaturefd LLC raised its position in shares of PLDT by 91.7% in the 3rd quarter. Signaturefd LLC now owns 3,711 shares of the technology company's stock valued at $66,000 after buying an additional 1,775 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in shares of PLDT by 40.3% during the 2nd quarter. Engineers Gate Manager LP now owns 22,887 shares of the technology company's stock worth $401,000 after acquiring an additional 6,572 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of PLDT by 74.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 7,390 shares of the technology company's stock worth $155,000 after acquiring an additional 3,155 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of PLDT by 47.0% during the 1st quarter. Quantinno Capital Management LP now owns 121,103 shares of the technology company's stock worth $2,548,000 after acquiring an additional 38,731 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in PLDT by 1.3% in the first quarter. Renaissance Technologies LLC now owns 2,327,067 shares of the technology company's stock valued at $48,961,000 after acquiring an additional 29,024 shares during the last quarter. 2.26% of the stock is currently owned by institutional investors.

PLDT Company Profile

PLDT Inc. is a telecommunications and digital services provider based in the Philippines. Founded in 1928, the company operates an integrated network serving residential, business and government customers across the country. Its services include mobile voice and data through its Smart brand, fixed-line telephony, home broadband and enterprise connectivity. Through its business units and subsidiaries, PLDT also provides information and communications technology services, cloud and data-center solutions, and other digital services.

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