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

LG Display Co., Ltd. (NYSE:LPL) shares gapped up before the market opened on Thursday . The stock had previously closed at $4.37, but opened at $4.86. LG Display shares last traded at $4.8560, with a volume of 251,410 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on LPL shares. Zacks Research raised shares of LG Display from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Wall Street Zen cut shares of LG Display from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Weiss Ratings cut shares of LG Display from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

LG Display Trading Up 11.9%

The stock has a market capitalization of $4.89 billion, a P/E ratio of -244.75 and a beta of 1.53. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.34 and a quick ratio of 0.46. The business’s 50 day simple moving average is $4.32 and its 200-day simple moving average is $4.33.

LG Display (NYSE:LPL) last announced its quarterly earnings data on Friday, May 15th. The electronics maker reported ($0.39) earnings per share (EPS) 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 during the quarter. As a group, analysts forecast that LG Display Co., Ltd. will post -0.21 EPS for the current year.

Institutional Investors Weigh In On LG Display

Several hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in LG Display by 82.2% in the first quarter. EverSource Wealth Advisors LLC now owns 17,799 shares of the electronics maker’s stock worth $69,000 after purchasing an additional 8,032 shares during the period. Sei Investments Co. raised its holdings in LG Display by 46.4% in the first quarter. Sei Investments Co. now owns 55,762 shares of the electronics maker’s stock worth $216,000 after purchasing an additional 17,665 shares during the period. Cetera Investment Advisers raised its holdings in LG Display by 18.8% in the first quarter. Cetera Investment Advisers now owns 14,580 shares of the electronics maker’s stock worth $57,000 after purchasing an additional 2,308 shares during the period. First Trust Advisors LP raised its holdings in LG Display by 135.3% in the first quarter. First Trust Advisors LP now owns 229,715 shares of the electronics maker’s stock worth $891,000 after purchasing an additional 132,096 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in LG Display by 37.3% in the first quarter. PNC Financial Services Group Inc. now owns 320,244 shares of the electronics maker’s stock worth $1,243,000 after purchasing an additional 87,055 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.