LG Display (NYSE:LPL) Shares Gap Down – Here’s What Happened

LG Display Co., Ltd. (NYSE:LPL) gapped down prior to trading on Wednesday . The stock had previously closed at $5.41, but opened at $4.88. LG Display shares last traded at $4.8450, with a volume of 208,386 shares trading hands.

Analyst Upgrades and Downgrades

LPL has been the subject of several research reports. Wall Street Zen cut LG Display from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Zacks Research upgraded LG Display from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Weiss Ratings lowered LG Display from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday, May 21st. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

LG Display Price Performance

The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.22 and a current ratio of 0.34. The firm has a market capitalization of $4.87 billion, a P/E ratio of -243.75 and a beta of 1.53. The company has a 50-day moving average price of $4.41 and a 200-day moving average price of $4.34.

LG Display (NYSE:LPL) last posted its quarterly earnings results on Friday, May 15th. The electronics maker reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.17). LG Display had a negative return on equity of 0.68% and a negative net margin of 0.18%.The company had revenue of $3.78 billion during the quarter. On average, sell-side analysts predict that LG Display Co., Ltd. will post -0.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LPL. Arrowstreet Capital Limited Partnership bought a new position in LG Display during the third quarter worth about $7,862,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in LG Display by 114.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,948,975 shares of the electronics maker’s stock worth $10,174,000 after acquiring an additional 1,040,826 shares in the last quarter. Millennium Management LLC lifted its holdings in LG Display by 92.1% during the fourth quarter. Millennium Management LLC now owns 776,354 shares of the electronics maker’s stock worth $3,268,000 after acquiring an additional 372,199 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in LG Display by 125.0% during the fourth quarter. Corient Private Wealth LLC now owns 633,970 shares of the electronics maker’s stock worth $2,667,000 after acquiring an additional 352,248 shares in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in LG Display by 792.0% during the third quarter. Two Sigma Investments LP now owns 175,839 shares of the electronics maker’s stock worth $918,000 after acquiring an additional 156,126 shares in the last quarter.

About LG Display

LG Display Co, Ltd., headquartered in Seoul, South Korea, is a global manufacturer of thin-film transistor liquid crystal display (TFT-LCD) and organic light-emitting diode (OLED) panels. The company designs and produces display solutions for a wide range of applications, including televisions, desktop monitors, notebook computers, tablets, smartphones, signage and automotive screens. Its product offerings span large-screen television modules, ultra-high definition monitors, flexible and transparent OLED displays, and specialized industrial panels.

LG Display operates a network of production facilities and research centers across Asia, including major manufacturing sites in Paju and Gumi, South Korea, as well as Wuhan, China.