BNP Paribas Arbitrage SA Has $194,000 Position in Universal Display Corp. (OLED)
BNP Paribas Arbitrage SA increased its stake in shares of Universal Display Corp. (NASDAQ:OLED) by 113.7% during the third quarter, Holdings Channel reports. The fund owned 3,498 shares of the company’s stock after buying an additional 1,861 shares during the period. BNP Paribas Arbitrage SA’s holdings in Universal Display Corp. were worth $194,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of OLED. Frontier Capital Management Co. LLC increased its position in shares of Universal Display Corp. by 89.4% in the second quarter. Frontier Capital Management Co. LLC now owns 1,358,477 shares of the company’s stock valued at $92,105,000 after buying an additional 641,396 shares during the last quarter. Norges Bank bought a new position in shares of Universal Display Corp. during the fourth quarter valued at $34,516,000. KEYWISE CAPITAL MANAGEMENT Ltd bought a new position in shares of Universal Display Corp. during the second quarter valued at $35,337,000. NN Investment Partners Holdings N.V. bought a new position in shares of Universal Display Corp. during the first quarter valued at $20,297,000. Finally, Lord Abbett & CO. LLC increased its position in shares of Universal Display Corp. by 72.3% in the second quarter. Lord Abbett & CO. LLC now owns 877,809 shares of the company’s stock valued at $59,515,000 after buying an additional 368,377 shares during the last quarter. Hedge funds and other institutional investors own 67.54% of the company’s stock.
Universal Display Corp. (NASDAQ:OLED) opened at 52.37 on Thursday. The stock has a market capitalization of $2.46 billion, a PE ratio of 51.14 and a beta of 1.06. The firm has a 50-day moving average price of $58.67 and a 200 day moving average price of $61.67. Universal Display Corp. has a 12 month low of $33.06 and a 12 month high of $74.39.
Universal Display Corp. (NASDAQ:OLED) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.04. The company earned $64.40 million during the quarter, compared to the consensus estimate of $68.68 million. Universal Display Corp. had a return on equity of 10.15% and a net margin of 24.96%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. Equities analysts anticipate that Universal Display Corp. will post $0.88 earnings per share for the current year.
OLED has been the topic of several recent analyst reports. Canaccord Genuity initiated coverage on Universal Display Corp. in a research report on Friday, September 23rd. They set a “hold” rating and a $51.00 price objective on the stock. TheStreet raised Universal Display Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 10th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Universal Display Corp. in a research report on Monday, August 8th. Zacks Investment Research cut Universal Display Corp. from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 13th. Finally, Needham & Company LLC cut Universal Display Corp. from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Universal Display Corp. has an average rating of “Hold” and an average target price of $57.83.
In related news, Director Leonard Becker sold 5,000 shares of the company’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $61.11, for a total transaction of $305,550.00. Following the transaction, the director now directly owns 19,650 shares of the company’s stock, valued at approximately $1,200,811.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.70% of the stock is owned by insiders.
Universal Display Corp. Company Profile
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in displays for wearables, smartphones, tablets and televisions, as well as solid-state lighting applications. The Company’s flat panel displays are used for various portable consumer electronics products, such as mobile phones, wearables, portable media devices, digital cameras, tablets and notebook computers.
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