LG Display (NYSE:LPL) Shares Gap Down – Time to Sell?

LG Display Co., Ltd. (NYSE:LPL) shares gapped down before the market opened on Thursday . The stock had previously closed at $5.76, but opened at $5.33. LG Display shares last traded at $5.2850, with a volume of 171,525 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently commented on LPL. Weiss Ratings upgraded shares of LG Display from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Wall Street Zen cut shares of LG Display from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Zacks Research upgraded shares of LG Display from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, LG Display presently has a consensus rating of “Reduce”.

LG Display Price Performance

The company has a market capitalization of $4.86 billion, a P/E ratio of -243.05 and a beta of 1.61. The company’s 50-day moving average price is $4.61 and its two-hundred day moving average price is $4.38. 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 for the quarter, missing the consensus estimate of ($0.22) by ($0.17). The company had revenue of $3.78 billion during the quarter. LG Display had a negative net margin of 0.18% and a negative return on equity of 0.68%. As a group, sell-side analysts expect that LG Display Co., Ltd. will post -0.21 EPS for the current year.

Hedge Funds Weigh In On LG Display

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of LG Display by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 3,826,043 shares of the electronics maker’s stock valued at $19,973,000 after purchasing an additional 15,767 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of LG Display by 114.6% in the third 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 purchasing an additional 1,040,826 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in LG Display during the third quarter worth about $7,862,000. State Street Corp increased its position in LG Display by 5.1% during the fourth quarter. State Street Corp now owns 804,268 shares of the electronics maker’s stock worth $3,386,000 after acquiring an additional 38,755 shares during the period. Finally, Millennium Management LLC increased its position 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 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.