LG Display (NYSE:LPL) Shares Down 4.7% – Here’s What Happened

LG Display Co., Ltd. (NYSE:LPL) dropped 4.7% during mid-day trading on Tuesday . The stock traded as low as $4.67 and last traded at $4.7250. Approximately 217,384 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,590,075 shares. The stock had previously closed at $4.96.

Analysts Set New Price Targets

LPL has been the subject of several analyst reports. Wall Street Zen downgraded shares of LG Display from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Zacks Research raised shares of LG Display from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Weiss Ratings raised shares of LG Display from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.

LG Display Trading Down 8.4%

The company has a market capitalization of $4.55 billion, a PE ratio of -226.75 and a beta of 1.61. The company’s fifty day moving average is $4.64 and its 200-day moving average is $4.39. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.34 and a quick ratio of 0.22.

LG Display (NYSE:LPL) last issued its quarterly earnings data 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). The business had revenue of $3.78 billion for the quarter. LG Display had a negative net margin of 0.18% and a negative return on equity of 0.68%. On average, analysts anticipate that LG Display Co., Ltd. will post -0.21 EPS for the current fiscal year.

Hedge Funds Weigh In On LG Display

Several institutional investors and hedge funds have recently bought and sold shares of LPL. CWM LLC grew its holdings in shares of LG Display by 14.4% during the fourth quarter. CWM LLC now owns 27,617 shares of the electronics maker’s stock valued at $116,000 after buying an additional 3,469 shares during the last quarter. Intelligence Driven Advisers LLC acquired a new position in LG Display during the fourth quarter valued at $58,000. Daytona Street Capital LLC acquired a new position in LG Display during the fourth quarter valued at $126,000. EdgeRock Capital LLC acquired a new position in LG Display during the fourth quarter valued at $80,000. Finally, Diversified Trust Co. lifted its position in LG Display by 34.1% during the fourth quarter. Diversified Trust Co. now owns 18,576 shares of the electronics maker’s stock valued at $78,000 after purchasing an additional 4,723 shares during the period.

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.