Cavalry Management Group LLC reduced its position in shares of Universal Display Corporation (NASDAQ:OLED) by 49.6% during the fourth quarter, Holdings Channel reports. The firm owned 44,748 shares of the company’s stock after selling 44,047 shares during the period. Universal Display Corporation makes up 1.7% of Cavalry Management Group LLC’s investment portfolio, making the stock its 16th largest position. Cavalry Management Group LLC owned approximately 0.10% of Universal Display Corporation worth $2,519,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Advisory Services Network LLC increased its stake in Universal Display Corporation by 1.2% in the third quarter. Advisory Services Network LLC now owns 6,838 shares of the company’s stock worth $380,000 after buying an additional 78 shares during the period. Royal Bank of Canada increased its stake in Universal Display Corporation by 2.2% in the second quarter. Royal Bank of Canada now owns 4,690 shares of the company’s stock worth $318,000 after buying an additional 100 shares during the period. HighTower Advisors LLC increased its stake in Universal Display Corporation by 0.7% in the third quarter. HighTower Advisors LLC now owns 13,987 shares of the company’s stock worth $777,000 after buying an additional 100 shares during the period. State Board of Administration of Florida Retirement System increased its stake in Universal Display Corporation by 0.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 24,648 shares of the company’s stock worth $1,388,000 after buying an additional 140 shares during the period. Finally, Capital One National Association increased its stake in Universal Display Corporation 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 during the period. 67.82% of the stock is owned by institutional investors.
Universal Display Corporation (NASDAQ:OLED) traded up 3.63% during mid-day trading on Tuesday, reaching $67.15. The company had a trading volume of 758,934 shares. The stock’s 50-day moving average is $61.29 and its 200 day moving average is $58.33. Universal Display Corporation has a 12 month low of $42.30 and a 12 month high of $74.39. The firm has a market capitalization of $3.15 billion, a P/E ratio of 80.61 and a beta of 1.27.
“Universal Display Corporation (OLED) Position Cut by Cavalry Management Group LLC” was posted by sleekmoney and is owned by of sleekmoney. If you are reading this report on another site, it was illegally stolen and republished in violation of United States & international copyright & trademark legislation. The correct version of this report can be read at http://sleekmoney.com/universal-display-corporation-oled-position-cut-by-cavalry-management-group-llc/1661277.html.
Several research analysts have recently issued reports on OLED shares. Gabelli raised Universal Display Corporation from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Friday, November 4th. Canaccord Genuity cut their price target on Universal Display Corporation from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Monday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Universal Display Corporation in a research note on Wednesday, January 11th. TheStreet downgraded Universal Display Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Universal Display Corporation in a research note on Monday, November 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Universal Display Corporation currently has a consensus rating of “Hold” and an average target price of $67.40.
About Universal Display Corporation
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.
Want to see what other hedge funds are holding OLED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Display Corporation (NASDAQ:OLED).
This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/universal-display-corporation-oled-position-cut-by-cavalry-management-group-llc/1661277.html
Receive News & Ratings for Universal Display Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display Corporation and related companies with MarketBeat.com's FREE daily email newsletter.