LG Display (NYSE:LPL) Shares Gap Down - Here's Why

Key Points

• LG Display gapped down, opening at $3.81 versus a prior close of $4.01 and trading around $3.8250 on about 1.38 million shares, a drop of roughly 4.9%.
• Brokerages have shifted their views recently — Wall Street Zen cut LPL to Hold, Zacks upgraded to Hold, Weiss reiterated a Sell — and MarketBeat shows a consensus rating of "Reduce" (four Holds, one Sell).
• Company fundamentals are mixed: $3.82 billion market cap and P/E of 20.08, but weak liquidity (quick ratio 0.46, current ratio 0.73), a recent quarterly EPS of -$0.14 on $4.61 billion revenue, and analysts expect 0.59 EPS for the year.

LG Display Co., Ltd. (NYSE:LPL - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $4.01, but opened at $3.81. LG Display shares last traded at $3.8250, with a volume of 1,381,625 shares traded.

Analyst Ratings Changes

A number of brokerages recently issued reports on LPL. Wall Street Zen lowered shares of LG Display from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. Zacks Research upgraded shares of LG Display from a "strong sell" rating to a "hold" rating in a report on Monday, March 30th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of LG Display in a research note on Thursday, January 22nd. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, LG Display currently has a consensus rating of "Reduce".

LG Display Trading Down 4.9%

The business has a 50-day moving average price of $4.19 and a 200-day moving average price of $4.47. The company has a quick ratio of 0.46, a current ratio of 0.73 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $3.82 billion, a P/E ratio of 20.08, a PEG ratio of 1.82 and a beta of 1.56.

LG Display (NYSE:LPL - Get Free Report) last posted its quarterly earnings results on Friday, February 13th. The electronics maker reported ($0.14) earnings per share for the quarter. LG Display had a return on equity of 3.26% and a net margin of 0.98%.The business had revenue of $4.61 billion for the quarter. Analysts anticipate that LG Display Co., Ltd. will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership bought a new stake in shares of LG Display in the 3rd quarter valued at approximately $7,862,000. Connor Clark & Lunn Investment Management Ltd. grew its position in 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 acquiring an additional 1,040,826 shares during the period. Millennium Management LLC raised its stake 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 in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of LG Display by 125.0% during the fourth quarter. Corient Private Wealth LLC now owns 633,970 shares of the electronics maker's stock valued at $2,667,000 after acquiring an additional 352,248 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of LG Display by 12.0% in the 2nd quarter. American Century Companies Inc. now owns 1,510,470 shares of the electronics maker's stock valued at $5,166,000 after purchasing an additional 161,409 shares in the last quarter.

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.

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