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

Shares of 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 traded.

Analysts Set New Price Targets

A number of analysts have commented on the company. Zacks Research upgraded LG Display from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Wall Street Zen downgraded LG Display from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Weiss Ratings downgraded LG Display from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday, May 21st. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce”.

LG Display Price Performance

The stock has a fifty day moving average of $4.41 and a two-hundred day moving average of $4.34. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of -243.75 and a beta of 1.53. The company has a current ratio of 0.34, a quick ratio of 0.22 and a debt-to-equity ratio of 1.63.

LG Display (NYSE:LPL) last released its quarterly earnings results on Friday, May 15th. The electronics maker reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.17). LG Display had a negative net margin of 0.18% and a negative return on equity of 0.68%. The business had revenue of $3.78 billion for the quarter. As a group, equities research analysts forecast that LG Display Co., Ltd. will post -0.21 earnings per share for the current year.

Institutional Investors Weigh In On LG Display

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of LG Display by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,826,043 shares of the electronics maker’s stock valued at $19,973,000 after buying an additional 15,767 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of LG Display by 114.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,948,975 shares of the electronics maker’s stock valued at $10,174,000 after buying an additional 1,040,826 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of LG Display in the 3rd quarter valued at $7,862,000. State Street Corp increased its stake in shares of LG Display by 5.1% in the 4th quarter. State Street Corp now owns 804,268 shares of the electronics maker’s stock valued at $3,386,000 after buying an additional 38,755 shares during the period. Finally, Millennium Management LLC increased its stake in shares of LG Display by 92.1% in the 4th quarter. Millennium Management LLC now owns 776,354 shares of the electronics maker’s stock valued at $3,268,000 after buying an additional 372,199 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.