50,000 Shares in Loar Holdings, LLC (NYSE:LOAR) Acquired by Ovata Capital Management Ltd

Ovata Capital Management Ltd acquired a new stake in Loar Holdings, LLC (NYSE:LOAR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 50,000 shares of the company’s stock, valued at approximately $3,696,000. Loar accounts for about 1.4% of Ovata Capital Management Ltd’s portfolio, making the stock its 18th largest holding. Ovata Capital Management Ltd owned approximately 0.06% of Loar as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pamalican Asset Management Ltd acquired a new stake in Loar in the 4th quarter valued at $3,226,000. Discovery Capital Management LLC CT acquired a new position in shares of Loar during the fourth quarter valued at about $4,435,000. Geode Capital Management LLC increased its position in shares of Loar by 93.9% during the fourth quarter. Geode Capital Management LLC now owns 340,487 shares of the company’s stock worth $25,172,000 after acquiring an additional 164,912 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Loar by 1.1% in the 4th quarter. Franklin Resources Inc. now owns 190,825 shares of the company’s stock worth $14,104,000 after acquiring an additional 2,059 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Loar in the 4th quarter valued at about $1,585,000.

Analysts Set New Price Targets

Several analysts have recently commented on LOAR shares. Royal Bank of Canada reissued an “outperform” rating and issued a $92.00 price objective on shares of Loar in a research note on Tuesday. Morgan Stanley raised Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price target for the company in a research report on Thursday.

Loar Stock Down 8.7 %

Shares of NYSE:LOAR opened at $69.19 on Friday. The business has a fifty day moving average price of $70.68 and a two-hundred day moving average price of $76.90. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. The company has a market capitalization of $6.47 billion and a PE ratio of 288.30. Loar Holdings, LLC has a 1 year low of $42.57 and a 1 year high of $96.99.

Loar (NYSE:LOAR) last released its earnings results on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. The company had revenue of $110.40 million for the quarter, compared to the consensus estimate of $102.51 million. Loar’s quarterly revenue was up 27.8% on a year-over-year basis. Analysts forecast that Loar Holdings, LLC will post 0.28 earnings per share for the current 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.