Traders Purchase High Volume of Call Options on LG Display (NYSE:LPL)

Key Points

• Unusually heavy options activity hit LG Display, with traders buying 2,400 call options on Friday — a 511% jump above the stock’s average daily call volume.
• Shares of LG Display rose 1.5% to $3.73, but the stock still trades well below its 50-day and 200-day moving averages and remains near the lower end of its 52-week range.
• Recent analyst sentiment remains cautious: one firm downgraded the stock, another upgraded it to hold, and the overall MarketBeat consensus is “Reduce.”

LG Display Co., Ltd. (NYSE:LPL - Get Free Report) was the target of unusually large options trading on Friday. Stock traders bought 2,400 call options on the stock. This represents an increase of 511% compared to the average daily volume of 393 call options.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings lowered LG Display from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 23rd. Zacks Research upgraded shares of LG Display from a "strong sell" rating to a "hold" rating in a research note on Monday, March 30th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Reduce".

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of LG Display by 4.6% during the second quarter. GAMMA Investing LLC now owns 87,102 shares of the electronics maker's stock worth $339,000 after purchasing an additional 3,808 shares during the last quarter. First Trust Advisors LP increased its stake in shares of LG Display by 135.3% during the first quarter. First Trust Advisors LP now owns 229,715 shares of the electronics maker's stock worth $891,000 after acquiring an additional 132,096 shares during the period. Elmwood Wealth Management Inc. purchased a new position in LG Display during the second quarter worth about $93,000. PNC Financial Services Group Inc. raised its holdings in LG Display by 37.3% during 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 in the last quarter. Finally, Parallel Advisors LLC lifted its position in LG Display by 2,561,700.0% in the first quarter. Parallel Advisors LLC now owns 25,618 shares of the electronics maker's stock valued at $99,000 after purchasing an additional 25,617 shares during the period.

LG Display Stock Up 1.5%

Shares of NYSE LPL traded up $0.06 during mid-day trading on Friday, hitting $3.73. The company had a trading volume of 263,320 shares, compared to its average volume of 1,759,987. The company has a market capitalization of $3.73 billion, a PE ratio of -186.55 and a beta of 1.65. 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 has a 1-year low of $3.34 and a 1-year high of $5.83. The business's 50-day simple moving average is $4.53 and its 200 day simple moving average is $4.36.

LG Display (NYSE:LPL - Get Free Report) last released its earnings results on Friday, May 15th. The electronics maker reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.17). LG Display had a negative return on equity of 0.68% and a negative net margin of 0.18%.The company had revenue of $3.78 billion for the quarter. On average, analysts predict that LG Display will post -0.21 earnings per share for the current year.

LG Display Company Profile

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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