Insider Monkey has processed numerous 13F filings of hedge funds and famous investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds and investors’ positions as of the end of the third quarter. You can find write-ups about an individual hedge fund’s trades on numerous financial news websites. However, in this article we will take a look at their collective moves and analyze what the smart money thinks of LG Display Co Ltd. (ADR) (NYSE:LPL) based on that data.
Is LG Display Co Ltd. (ADR) (NYSE:LPL) worth your attention right now? Hedge funds are in a pessimistic mood. The number of long hedge fund positions stayed the same at 13, which is a slightly negative development in our experience. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Apollo Global Management LLC (NYSE:APO), SS and C Technologies Holdings Inc (NASDAQ:SSNC), and Qorvo Inc (NASDAQ:QRVO) to gather more data points.
Follow L G Display Co Ltd (NYSE:LPL)
Follow L G Display Co Ltd (NYSE:LPL)
Today there are numerous formulas stock traders use to appraise publicly traded companies. Some of the less known formulas are hedge fund and insider trading moves. We have shown that, historically, those who follow the best picks of the elite hedge fund managers can outpace the broader indices by a superb margin (see the details here).
With all of this in mind, let’s take a gander at the new action encompassing LG Display Co Ltd. (ADR) (NYSE:LPL).
What does the smart money think about LG Display Co Ltd. (ADR) (NYSE:LPL)?
At the end of the third quarter, a total of 13 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 0% from one quarter earlier. With hedge funds’ capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their holdings significantly (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, holds the largest position in LG Display Co Ltd. (ADR) (NYSE:LPL). Arrowstreet Capital has a $4.8 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Sitting at the No. 2 spot is Two Sigma Advisors, led by John Overdeck and David Siegel, holding an $3.6 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Other members of the smart money that are bullish consist of William B. Gray’s Orbis Investment Management, Simon Sadler’s Segantii Capital and Israel Englander’s Millennium Management.
Seeing as LG Display Co Ltd. (ADR) (NYSE: LPL) has experienced a decline in interest from the entirety of the hedge funds we track, logic holds that there is a sect of hedgies that elected to cut their entire stakes in the third quarter. At the top of the heap, Jim Simons’s Renaissance Technologies sold off the largest investment of the “upper crust” of funds tracked by Insider Monkey, valued at about $3.7 million in stock, and Louis Bacon of Moore Global Investments was right behind this move, as the fund sold off about $1.9 million worth. These transactions are important to note, as total hedge fund interest stayed the same (this is a bearish signal in our experience).
Let’s now take a look at hedge fund activity in other stocks similar to LG Display Co Ltd. (ADR) (NYSE:LPL). We will take a look at Apollo Global Management LLC (NYSE:APO), SS and C Technologies Holdings Inc (NASDAQ:SSNC), Qorvo Inc (NASDAQ:QRVO), and Hyatt Hotels Corporation (NYSE:H). This group of stocks’ market values are closest to LPL’s market value.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| APO | 18 | 242364 | -2 |
| SSNC | 38 | 992399 | 1 |
| QRVO | 27 | 388820 | -7 |
| H | 20 | 295664 | -4 |
As you can see these stocks had an average of 26 hedge funds with bullish positions and the average amount invested in these stocks was $480 million.That figure was $22 million in LPL’s case. SS and C Technologies Holdings Inc (NASDAQ:SSNC) is the most popular stock in this table, while Apollo Global Management LLC (NYSE:APO) is the least popular one with only 18 bullish hedge fund positions. Compared to these stocks, LG Display Co Ltd. (ADR) (NYSE:LPL) is even less popular than APO. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is advised.
