PLDT (NYSE:PHI) Shares Gap Up to $23.10

PLDT Inc. (NYSE:PHI – Get Rating)’s share price gapped up prior to trading on Friday . The stock had previously closed at $23.10, but opened at $23.68. PLDT shares last traded at $23.27, with a volume of 3,026 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on PLDT in a research note on Thursday. They issued a “buy” rating on the stock.

PLDT Price Performance

The company has a debt-to-equity ratio of 1.86, a current ratio of 0.30 and a quick ratio of 0.28. The stock has a 50 day moving average price of $24.95 and a 200-day moving average price of $26.07. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 7.58, a price-to-earnings-growth ratio of 0.96 and a beta of 0.56.

Institutional Trading of PLDT

A number of institutional investors have recently made changes to their positions in PHI. Ronald Blue Trust Inc. boosted its stake in PLDT by 658.9% during the third quarter. Ronald Blue Trust Inc. now owns 1,700 shares of the technology company’s stock worth $52,000 after buying an additional 1,476 shares during the last quarter. Belpointe Asset Management LLC acquired a new position in PLDT during the fourth quarter worth $46,000. Citigroup Inc. boosted its stake in PLDT by 1,869.6% during the first quarter. Citigroup Inc. now owns 2,265 shares of the technology company’s stock worth $80,000 after buying an additional 2,150 shares during the last quarter. Wipfli Financial Advisors LLC acquired a new position in PLDT during the third quarter worth $72,000. Finally, Quadrant Capital Group LLC boosted its stake in PLDT by 15.4% during the second quarter. Quadrant Capital Group LLC now owns 6,666 shares of the technology company’s stock worth $203,000 after buying an additional 888 shares during the last quarter. 2.59% of the stock is owned by institutional investors and hedge funds.

About PLDT

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PLDT, Inc engages in the provision of telecommunication services. It operates through the following segments: Wireless, Fixed Line, and Others. The Wireless segment focuses on driving data services while managing business of voice and SMS. The Fixed Line segment offers fixed line telecommunications services throughout the Philippines, servicing retail, corporate, and SME clients.