Bamco Inc. NY Raises Stock Holdings in Loar Holdings, LLC (NYSE:LOAR)

Bamco Inc. NY boosted its stake in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) by 80.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,557 shares of the company's stock after purchasing an additional 60,755 shares during the quarter. Bamco Inc. NY owned about 0.15% of Loar worth $10,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LOAR. Vanguard Group Inc. grew its position in shares of Loar by 132.4% in the 4th quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company's stock worth $201,133,000 after buying an additional 1,550,581 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in Loar by 159.8% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,066,525 shares of the company's stock worth $78,827,000 after purchasing an additional 656,016 shares during the last quarter. Wasatch Advisors LP purchased a new stake in shares of Loar during the 4th quarter valued at $40,347,000. Norges Bank acquired a new stake in shares of Loar in the 4th quarter worth $30,326,000. Finally, Alyeska Investment Group L.P. grew its stake in Loar by 99.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 650,000 shares of the company's stock worth $48,042,000 after buying an additional 324,700 shares during the last quarter.

Loar Stock Performance

Shares of NYSE LOAR traded up $0.16 during trading on Wednesday, reaching $97.39. 617,600 shares of the company traded hands, compared to its average volume of 416,033. Loar Holdings, LLC has a 12-month low of $45.13 and a 12-month high of $99.16. 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 stock has a market cap of $9.11 billion and a P/E ratio of 405.77. The firm's fifty day simple moving average is $77.57 and its 200 day simple moving average is $79.07.

Loar (NYSE:LOAR - Get Free Report) last announced its quarterly earnings results on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.11. The company had revenue of $110.40 million during the quarter, compared to analyst estimates of $102.51 million. Loar's revenue was up 27.8% compared to the same quarter last year. As a group, research analysts anticipate that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LOAR has been the topic of a number of research reports. Morgan Stanley raised Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price objective on the stock in a report on Thursday, April 3rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $92.00 price target on shares of Loar in a report on Tuesday, April 1st.

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.