Highbridge Capital Management LLC cut its stake in shares of LG Display Co Ltd. (NYSE:LPL) by 29.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,000 shares of the electronics maker’s stock after selling 84,200 shares during the quarter. Highbridge Capital Management LLC’s holdings in LG Display were worth $1,734,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Schwab Charles Investment Management Inc. boosted its stake in LG Display by 6.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 486,214 shares of the electronics maker’s stock worth $4,007,000 after acquiring an additional 30,179 shares in the last quarter. Northern Trust Corp boosted its stake in LG Display by 3.9% during the second quarter. Northern Trust Corp now owns 425,481 shares of the electronics maker’s stock worth $3,506,000 after acquiring an additional 15,991 shares in the last quarter. Macquarie Group Ltd. boosted its stake in LG Display by 13.1% during the second quarter. Macquarie Group Ltd. now owns 291,509 shares of the electronics maker’s stock worth $2,402,000 after acquiring an additional 33,700 shares in the last quarter. AGF Investments Inc. boosted its stake in LG Display by 123.3% during the third quarter. AGF Investments Inc. now owns 201,992 shares of the electronics maker’s stock worth $1,751,000 after acquiring an additional 111,531 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in LG Display by 344.0% during the third quarter. BlackRock Inc. now owns 187,133 shares of the electronics maker’s stock worth $1,622,000 after acquiring an additional 144,982 shares in the last quarter. 2.90% of the stock is currently owned by institutional investors and hedge funds.
LPL has been the topic of several research analyst reports. Zacks Investment Research raised shares of LG Display from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 26th. CLSA lowered shares of LG Display from an “outperform” rating to an “underperform” rating in a research note on Wednesday, October 24th. Finally, Citigroup assumed coverage on shares of LG Display in a research note on Thursday. They issued a “buy” rating on the stock. Four analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. LG Display has a consensus rating of “Hold” and an average target price of $15.00.
LG Display stock opened at $7.48 on Friday. LG Display Co Ltd. has a 1-year low of $6.75 and a 1-year high of $15.88. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 44.94 and a beta of 1.06. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.66 and a current ratio of 0.91.
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About LG Display
LG Display Co, Ltd. manufactures and sells thin-film transistor liquid crystal display and organic light-emitting diode (OLED) technology-based display panels in the Republic of Korea, China, Europe, rest of Asia, the United States, and internationally. It offers various display panels primarily for use in televisions, notebook computers, desktop monitors, tablet computers, and mobile devices.
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