Y Intercept Hong Kong Ltd acquired a new position in shares of Loar Holdings, LLC (NYSE:LOAR – Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,454 shares of the company’s stock, valued at approximately $332,000.
Other institutional investors also recently modified their holdings of the company. Arcadia Investment Management Corp MI bought a new stake in shares of Loar during the 2nd quarter worth $26,000. Amalgamated Bank bought a new stake in Loar in the second quarter worth $37,000. nVerses Capital LLC purchased a new stake in Loar during the 3rd quarter valued at about $45,000. Linonia Partnership LP bought a new position in shares of Loar in the second quarter worth approximately $53,000. Finally, RiverPark Advisors LLC purchased a new position in shares of Loar in the second quarter worth $155,000.
Loar Stock Down 4.3 %
LOAR stock opened at $76.46 on Wednesday. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. The firm has a 50 day moving average price of $84.50 and a 200-day moving average price of $71.75. Loar Holdings, LLC has a 52-week low of $42.57 and a 52-week high of $96.99.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on LOAR shares. Morgan Stanley upped their price objective on shares of Loar from $75.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. Citigroup lifted their price target on Loar from $64.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price objective on shares of Loar in a report on Thursday, November 14th.
Check Out Our Latest Analysis on LOAR
Insider Transactions at Loar
In other Loar news, insider Michael J. Manella sold 28,153 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $81.17, for a total transaction of $2,285,179.01. Following the completion of the sale, the insider now directly owns 580,388 shares in the company, valued at $47,110,093.96. The trade was a 4.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Brett N. Milgrim sold 120,305 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $81.17, for a total transaction of $9,765,156.85. Following the sale, the chairman now directly owns 3,865,327 shares of the company’s stock, valued at $313,748,592.59. The trade was a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,135,706 shares of company stock worth $92,185,256 over the last three months.
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.
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