Concourse Capital Management adds Universal Display Corporation (OLED) to its portfolio

Universal Display Corporation (OLED) : Concourse Capital Management added new position in Universal Display Corporation during the most recent quarter end. The investment management firm now holds 12,058 shares of Universal Display Corporation which is valued at $867,935 , the company said in a statement filed on Aug 2, 2016 with the SEC.Universal Display Corporation makes up approximately 0.53% of Concourse Capital Management’s portfolio.

Other Hedge Funds, Including , Provise Management Group added OLED to its portfolio by purchasing 5,839 company shares during the most recent quarter which is valued at $420,291. Universal Display Corporation makes up approx 0.08% of Provise Management Group’s portfolio.Financial Architects Inc reduced its stake in OLED by selling 100 shares or 9.09% in the most recent quarter. The Hedge Fund company now holds 1,000 shares of OLED which is valued at $72,270. Universal Display Corporation makes up approx 0.02% of Financial Architects Inc’s portfolio.Nn Investment Partners Holdings N.v. boosted its stake in OLED in the latest quarter, The investment management firm added 125,319 additional shares and now holds a total of 500,491 shares of Universal Display Corporation which is valued at $34,378,727. Universal Display Corporation makes up approx 0.32% of Nn Investment Partners Holdings N.v.’s portfolio.

Universal Display Corporation closed down -0.7 points or -1.08% at $63.92 with 18,06,520 shares getting traded on Monday. Post opening the session at $64.65, the shares hit an intraday low of $62.5301 and an intraday high of $65.435 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Universal Display Corporation reported $0.46 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.51. The company had revenue of $64.40 million for the quarter, compared to analysts expectations of $69.51 million. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS.

Many Wall Street Analysts have commented on Universal Display Corporation. Universal Display Corporation was Downgraded by Needham to ” Hold” on Aug 5, 2016. Company shares were Reiterated by Needham on May 25, 2016 to “Buy”, Firm has raised the Price Target to $ 69 from a previous price target of $62 .Universal Display Corporation was Upgraded by Goldman to ” Buy” on May 23, 2016.

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 a variety of portable consumer electronics products such as cell phones portable media devices digital cameras tablets and laptop computers. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities and it provides technical assistance and support to these manufacturers. Its customers include LG Display Tohoku Pioneer and Konica Minolta among others.

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