PLDT (NYSE:PHI) Shares Cross Above 200 Day Moving Average – What’s Next?

Shares of PLDT Inc. (NYSE:PHI) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $21.26 and traded as high as $24.49. PLDT shares last traded at $24.3430, with a volume of 54,552 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of PLDT in a research report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

PLDT Stock Up 0.5%

The company has a current ratio of 0.38, a quick ratio of 0.37 and a debt-to-equity ratio of 2.32. The company’s fifty day moving average price is $22.69 and its 200-day moving average price is $21.26.

Hedge Funds Weigh In On PLDT

Several large investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in PLDT during the 2nd quarter valued at about $404,000. American Century Companies Inc. grew its holdings in shares of PLDT by 25.7% during the second quarter. American Century Companies Inc. now owns 151,779 shares of the technology company’s stock valued at $3,303,000 after buying an additional 31,022 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of PLDT during the second quarter valued at approximately $275,000. MAI Capital Management bought a new stake in shares of PLDT during the second quarter valued at approximately $65,000. Finally, PNC Financial Services Group Inc. raised its holdings in PLDT by 46.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 19,442 shares of the technology company’s stock worth $423,000 after acquiring an additional 6,163 shares during the last quarter. Hedge funds and other institutional investors own 2.26% of the company’s stock.

About PLDT

Philippine Long Distance Telephone Company (PLDT) is the largest integrated telecommunications provider in the Philippines, offering a comprehensive suite of fixed‐line, wireless, broadband Internet, and digital solutions to residential, enterprise, and government customers. Founded in 1928, PLDT has played a pivotal role in the development of the country’s communications infrastructure, evolving from a traditional operator of long‐distance telephone lines into a diversified digital services provider.

PLDT operates two main business segments: its fixed‐line and broadband operations under the PLDT brand and its wireless services through subsidiary Smart Communications.