LG Display Co Ltd. (ADR) (NYSE:LPL) was in 9 hedge funds’ portfolio at the end of December. LPL investors should be aware of a decrease in activity from the world’s largest hedge funds recently. There were 9 hedge funds in our database with LPL holdings at the end of the previous quarter.
At the moment, there are plenty of gauges shareholders can use to track stocks. Two of the most innovative are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the elite hedge fund managers can trounce the S&P 500 by a superb amount (see just how much).
Just as important, optimistic insider trading sentiment is another way to parse down the investments you’re interested in. As the old adage goes: there are a number of motivations for a corporate insider to downsize shares of his or her company, but only one, very simple reason why they would buy. Several empirical studies have demonstrated the market-beating potential of this tactic if piggybackers understand what to do (learn more here).
Now, it’s important to take a look at the latest action surrounding LG Display Co Ltd. (ADR) (NYSE:LPL).
How are hedge funds trading LG Display Co Ltd. (ADR) (NYSE:LPL)?
Heading into 2013, a total of 9 of the hedge funds we track held long positions in this stock, a change of 0% from one quarter earlier. With hedge funds’ sentiment swirling, there exists an “upper tier” of key hedge fund managers who were increasing their holdings significantly.
When looking at the hedgies we track, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital had the biggest position in LG Display Co Ltd. (ADR) (NYSE:LPL), worth close to $13.2 million, comprising 0.1% of its total 13F portfolio. On Arrowstreet Capital’s heels is Ken Griffin of Citadel Investment Group, with a $7.4 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Other peers that hold long positions include Israel Englander’s Millennium Management, Cliff Asness’s AQR Capital Management and Jim Simons’s Renaissance Technologies.
Due to the fact that LG Display Co Ltd. (ADR) (NYSE:LPL) has witnessed a declination in interest from the entirety of the hedge funds we track, it’s easy to see that there was a specific group of funds that decided to sell off their positions entirely heading into 2013. At the top of the heap, Rob Citrone’s Discovery Capital Management dropped the largest position of all the hedgies we key on, comprising close to $1.3 million in stock.. Bruce Kovner’s fund, Caxton Associates LP, also sold off its stock, about $0.3 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).
How are insiders trading LG Display Co Ltd. (ADR) (NYSE:LPL)?
Insider trading activity, especially when it’s bullish, is at its handiest when the company in focus has experienced transactions within the past half-year. Over the last half-year time period, LG Display Co Ltd. (ADR) (NYSE:LPL) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to LG Display Co Ltd. (ADR) (NYSE:LPL). These stocks are Molex Incorporated (NASDAQ:MOLX), Corning Incorporated (NYSE:GLW), TE Connectivity Ltd. (NYSE:TEL), Kyocera Corporation (ADR) (NYSE:KYO), and Amphenol Corporation (NYSE:APH). This group of stocks belong to the diversified electronics industry and their market caps are closest to LPL’s market cap.