Calamos Advisors LLC Decreases Stake in Loar Holdings, LLC (NYSE:LOAR)

Calamos Advisors LLC decreased its position in Loar Holdings, LLC (NYSE:LOAR) by 66.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,521 shares of the company’s stock after selling 16,582 shares during the period. Calamos Advisors LLC’s holdings in Loar were worth $630,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LOAR. nVerses Capital LLC purchased a new stake in Loar during the third quarter worth about $45,000. R Squared Ltd purchased a new stake in shares of Loar during the 4th quarter worth approximately $95,000. Barclays PLC increased its stake in shares of Loar by 871.3% during the 3rd quarter. Barclays PLC now owns 2,943 shares of the company’s stock worth $219,000 after purchasing an additional 2,640 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Loar in the third quarter worth $230,000. Finally, Holocene Advisors LP purchased a new stake in Loar in the third quarter worth $267,000.

Insider Activity at Loar

In other news, insider Michael J. Manella sold 28,153 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $81.17, for a total transaction of $2,285,179.01. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at this link. Also, Chairman Brett N. Milgrim sold 120,305 shares of the business’s stock in a transaction on 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 transaction, the chairman now owns 3,865,327 shares of the company’s stock, valued at $313,748,592.59. This trade represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,135,706 shares of company stock valued at $92,185,256.

Loar Stock Down 1.2 %

Loar stock opened at $76.30 on Thursday. Loar Holdings, LLC has a 1-year low of $42.57 and a 1-year high of $96.99. 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 simple moving average of $79.33 and a 200 day simple moving average of $76.65.

Loar (NYSE:LOAR) last announced its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. The company had revenue of $103.52 million during the quarter, compared to analysts’ expectations of $97.30 million. The company’s revenue was up 25.0% compared to the same quarter last year. On average, sell-side analysts expect that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LOAR has been the subject of a number of recent research reports. Morgan Stanley raised their target price on Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price objective on shares of Loar in a report on Thursday, November 14th.

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.