Zweig DiMenna Associates LLC Sells 6,950 Shares of Loar Holdings, LLC (NYSE:LOAR)

Zweig DiMenna Associates LLC trimmed its holdings in Loar Holdings, LLC (NYSE:LOAR) by 4.0% in the third quarter, Holdings Channel reports. The fund owned 165,450 shares of the company’s stock after selling 6,950 shares during the period. Zweig DiMenna Associates LLC’s holdings in Loar were worth $12,341,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. TCW Group Inc. bought a new stake in Loar during the 2nd quarter worth approximately $7,366,000. Select Equity Group L.P. acquired a new position in shares of Loar in the second quarter valued at approximately $911,000. Emerald Advisers LLC bought a new stake in shares of Loar during the second quarter worth $1,146,000. Abrams Capital Management L.P. acquired a new stake in shares of Loar during the second quarter worth $2,052,780,000. Finally, Picton Mahoney Asset Management bought a new stake in Loar in the 2nd quarter valued at $964,000.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LOAR shares. Citigroup increased their target price on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Morgan Stanley upped their price objective on Loar from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $80.00 target price on shares of Loar in a research report on Monday, October 7th.

Loar Stock Down 0.1 %

Loar stock opened at $79.99 on Friday. The company has a quick ratio of 3.09, a current ratio of 4.86 and a debt-to-equity ratio of 0.33. Loar Holdings, LLC has a 1-year low of $42.57 and a 1-year high of $82.48. The company has a fifty day simple moving average of $74.35.

Loar (NYSE:LOAR) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $97.10 million during the quarter, compared to the consensus estimate of $91.70 million. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, equities analysts expect that Loar Holdings, LLC will post 0.37 earnings per share for the current fiscal year.

About Loar

Loar Holdings Inc, through its subsidiaries, designs, manufactures, and markets aerospace and defense components for aircraft, and aerospace and defense systems in the United States and internationally. It offers products in various categories, which include airframe components, structural components, avionics, composites, braking system components, de-ice and ice protection, electro-mechanical, engineered materials, flight controls, fluid and motion controls, environmental, metal forming, molded components, and restraints and safety devices.