Today, Quantitative Investment Management LLC Sold shares of Universal Display Corp. (OLED)

Today, Quantitative Investment Management LLC Sold shares of Universal Display Corp. (OLED)
Quantitative Investment Management LLC decreased its stake in shares of Universal Display Corp. (NASDAQ:OLED) by 23.6% during the third quarter, Holdings Channel reports. The fund owned 14,900 shares of the company’s stock after selling 4,600 shares during the period. Quantitative Investment Management LLC’s holdings in Universal Display Corp. were worth $827,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. First Trust Advisors LP boosted its position in shares of Universal Display Corp. by 25.6% in the third quarter. First Trust Advisors LP now owns 73,045 shares of the company’s stock worth $4,055,000 after buying an additional 14,891 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Universal Display Corp. by 22.8% in the third quarter. Wells Fargo & Company MN now owns 949,174 shares of the company’s stock worth $52,689,000 after buying an additional 176,249 shares in the last quarter. Capital One National Association boosted its position in shares of Universal Display Corp. by 1.5% in the third quarter. Capital One National Association now owns 9,550 shares of the company’s stock worth $530,000 after buying an additional 144 shares in the last quarter. Shaker Investments LLC OH bought a new position in shares of Universal Display Corp. during the third quarter worth approximately $945,000. Finally, Great West Life Assurance Co. Can boosted its position in shares of Universal Display Corp. by 31.5% in the third quarter. Great West Life Assurance Co. Can now owns 5,248 shares of the company’s stock worth $291,000 after buying an additional 1,258 shares in the last quarter. 68.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Universal Display Corp. (NASDAQ:OLED) opened at 57.40 on Friday. Universal Display Corp. has a 52 week low of $40.44 and a 52 week high of $74.39. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 68.91 and a beta of 1.35. The firm has a 50-day moving average price of $53.64 and a 200-day moving average price of $60.90.

Universal Display Corp. (NASDAQ:OLED) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. Universal Display Corp. had a net margin of 21.61% and a return on equity of 8.37%. The business had revenue of $30.20 million for the quarter, compared to analyst estimates of $32.95 million. During the same period in the previous year, the company earned $0.15 earnings per share. The business’s revenue for the quarter was down 23.4% on a year-over-year basis. On average, equities analysts anticipate that Universal Display Corp. will post $0.89 earnings per share for the current year.

A number of brokerages recently commented on OLED. Canaccord Genuity decreased their target price on Universal Display Corp. from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Monday, November 7th. Zacks Investment Research cut Universal Display Corp. from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 19th. Needham & Company LLC cut Universal Display Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Universal Display Corp. in a report on Monday, November 7th. Finally, TheStreet raised Universal Display Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $67.40.

In other Universal Display Corp. news, Director Leonard Becker sold 5,000 shares of Universal Display Corp. stock in a transaction on Monday, September 19th. The shares were sold at an average price of $61.11, for a total value of $305,550.00. Following the transaction, the director now directly owns 19,650 shares of the company’s stock, valued at $1,200,811.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Janice K. Mahon sold 10,584 shares of Universal Display Corp. stock in a transaction on Friday, November 11th. The stock was sold at an average price of $60.05, for a total transaction of $635,569.20. The disclosure for this sale can be found here. 5.70% of the stock is currently owned by company 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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