PLDT Inc. (NYSE:PHI – Get Free Report)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $22.03 and traded as high as $22.80. PLDT shares last traded at $22.55, with a volume of 37,494 shares traded.
Wall Street Analysts Forecast Growth
Separately, StockNews.com initiated coverage on PLDT in a research report on Thursday, October 5th. They set a “buy” rating for the company.
PLDT Price Performance
Hedge Funds Weigh In On PLDT
Several hedge funds and other institutional investors have recently modified their holdings of PHI. Wells Fargo & Company MN raised its position in PLDT by 79.0% in the 2nd quarter. Wells Fargo & Company MN now owns 1,790 shares of the technology company’s stock valued at $42,000 after purchasing an additional 790 shares during the last quarter. Citigroup Inc. grew its stake in shares of 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 purchasing an additional 2,150 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of PLDT by 585.5% during the first quarter. Tower Research Capital LLC TRC now owns 5,299 shares of the technology company’s stock worth $134,000 after purchasing an additional 4,526 shares during the period. Signaturefd LLC grew its stake in PLDT by 22.7% in the second quarter. Signaturefd LLC now owns 7,506 shares of the technology company’s stock valued at $175,000 after acquiring an additional 1,389 shares during the period. Finally, Portside Wealth Group LLC acquired a new position in PLDT in the second quarter valued at about $226,000. Institutional investors own 2.27% of the company’s stock.
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.
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