LG Display (NYSE:LPL) Reaches New 52-Week Low – Time to Sell?

Shares of LG Display Co., Ltd. (NYSE:LPL) hit a new 52-week low on Thursday . The stock traded as low as $2.76 and last traded at $2.7850, with a volume of 4758320 shares trading hands. The stock had previously closed at $2.93.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LPL. Weiss Ratings cut shares of LG Display from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Zacks Research lowered shares of LG Display from a “hold” rating to a “strong sell” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Sell”.

LG Display Stock Up 0.2%

The company has a debt-to-equity ratio of 1.63, a current ratio of 0.34 and a quick ratio of 0.22. The company has a market capitalization of $2.98 billion, a P/E ratio of -149.25 and a beta of 1.65. The company has a 50 day moving average of $4.11 and a 200-day moving average of $4.25.

LG Display (NYSE:LPL) last announced its quarterly earnings results on Wednesday, July 1st. The electronics maker reported ($0.26) earnings per share (EPS) for the quarter. The business had revenue of $3.62 billion for the quarter. LG Display had a negative net margin of 0.18% and a negative return on equity of 0.68%. As a group, equities analysts anticipate that LG Display Co., Ltd. will post -0.34 EPS for the current year.

Hedge Funds Weigh In On LG Display

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership purchased a new stake in LG Display in the third quarter worth $7,862,000. Connor Clark & Lunn Investment Management Ltd. increased its position in LG Display by 114.6% during 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 purchasing an additional 1,040,826 shares during the period. Millennium Management LLC increased its position in LG Display by 92.1% during the 4th quarter. Millennium Management LLC now owns 776,354 shares of the electronics maker’s stock valued at $3,268,000 after purchasing an additional 372,199 shares during the period. Corient Private Wealth LLC lifted its position in shares of LG Display by 125.0% in the 4th quarter. Corient Private Wealth LLC now owns 633,970 shares of the electronics maker’s stock worth $2,667,000 after purchasing an additional 352,248 shares during the period. Finally, Two Sigma Investments LP lifted its position in shares of LG Display by 792.0% in the 3rd quarter. Two Sigma Investments LP now owns 175,839 shares of the electronics maker’s stock worth $918,000 after purchasing an additional 156,126 shares during the period.

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.