PLDT (NYSE:PHI) Lowered to Buy Rating by StockNews.com

StockNews.com cut shares of PLDT (NYSE:PHI) from a strong-buy rating to a buy rating in a report published on Thursday morning.

PLDT Stock Down 0.6 %

PLDT stock opened at $23.45 on Thursday. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.34 and a quick ratio of 0.32. The company’s 50-day moving average is $22.74 and its 200-day moving average is $24.34. The firm has a market capitalization of $5.07 billion, a PE ratio of 7.74, a P/E/G ratio of 1.14 and a beta of 0.66. PLDT has a fifty-two week low of $21.00 and a fifty-two week high of $30.39.

Institutional Investors Weigh In On PLDT

Hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in shares of PLDT during the third quarter worth approximately $28,000. First Trust Direct Indexing L.P. increased its position in 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 buying an additional 1,383 shares during the period. Robeco Institutional Asset Management B.V. increased its position in PLDT by 12.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 13,946 shares of the technology company’s stock worth $375,000 after buying an additional 1,565 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of PLDT during the third quarter worth $79,000. Finally, Ascent Group LLC bought a new stake in shares of PLDT in the third quarter valued at about $218,000. Institutional investors and hedge funds own 2.26% of the company’s stock.

PLDT Company Profile

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.