Loar Holdings, LLC (NYSE:LOAR) Insider Sells $2,285,179.01 in Stock

Loar Holdings, LLC (NYSE:LOAR) insider Michael J. Manella sold 28,153 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $81.17, for a total value of $2,285,179.01. Following the completion of the transaction, the insider now directly owns 580,388 shares of the company’s stock, valued at approximately $47,110,093.96. This trade represents a 4.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Loar Price Performance

Shares of LOAR stock opened at $76.46 on Wednesday. Loar Holdings, LLC has a 1-year low of $42.57 and a 1-year high of $96.99. The firm’s 50-day simple moving average is $84.50 and its 200-day simple moving average is $71.75. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78.

Loar (NYSE:LOAR) last announced its quarterly earnings data on Wednesday, November 13th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. The company had revenue of $103.52 million for the quarter, compared to analysts’ expectations of $97.30 million. Loar’s revenue was up 25.0% on a year-over-year basis. As a group, research analysts anticipate that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LOAR. Citigroup upped their target price on shares of Loar from $64.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Royal Bank of Canada restated an “outperform” rating and set a $100.00 target price on shares of Loar in a research report on Thursday, November 14th. Finally, Morgan Stanley boosted their price target on Loar from $75.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, November 18th.

Hedge Funds Weigh In On Loar

A number of large investors have recently modified their holdings of the company. Arcadia Investment Management Corp MI acquired a new stake in Loar during the 2nd quarter worth approximately $26,000. nVerses Capital LLC purchased a new position in shares of Loar in the 3rd quarter valued at $45,000. Amalgamated Bank acquired a new position in shares of Loar during the 2nd quarter valued at $37,000. Captrust Financial Advisors boosted its position in Loar by 9.8% during the 3rd quarter. Captrust Financial Advisors now owns 10,471 shares of the company’s stock worth $781,000 after purchasing an additional 938 shares during the period. Finally, Linonia Partnership LP acquired a new stake in Loar in the 2nd quarter valued at $53,000.

Loar Company Profile

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.