Driehaus Capital Management LLC Sells 92,824 Shares of Loar Holdings, LLC (NYSE:LOAR)

Driehaus Capital Management LLC trimmed its holdings in Loar Holdings, LLC (NYSE:LOAR - Free Report) by 21.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 341,144 shares of the company's stock after selling 92,824 shares during the quarter. Driehaus Capital Management LLC owned approximately 0.38% of Loar worth $25,214,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Barclays PLC lifted its holdings in shares of Loar by 871.3% in the 3rd quarter. Barclays PLC now owns 2,943 shares of the company's stock worth $219,000 after buying an additional 2,640 shares during the period. Franklin Resources Inc. boosted its position in Loar by 36.0% during the third quarter. Franklin Resources Inc. now owns 188,766 shares of the company's stock worth $14,556,000 after purchasing an additional 49,966 shares in the last quarter. Zweig DiMenna Associates LLC lifted its position in shares of Loar by 4.4% in the fourth quarter. Zweig DiMenna Associates LLC now owns 172,750 shares of the company's stock valued at $12,768,000 after acquiring an additional 7,300 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Loar in the 4th quarter worth $5,053,000. Finally, R Squared Ltd acquired a new stake in shares of Loar during the 4th quarter worth about $95,000.

Loar Trading Down 8.6%

Shares of NYSE:LOAR traded down $7.98 during midday trading on Wednesday, reaching $85.16. The company had a trading volume of 1,200,270 shares, compared to its average volume of 436,328. Loar Holdings, LLC has a 1-year low of $46.83 and a 1-year high of $99.67. The company has a fifty day simple moving average of $79.69 and a two-hundred day simple moving average of $79.51. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. The firm has a market cap of $7.97 billion and a price-to-earnings ratio of 354.83.

Loar (NYSE:LOAR - Get Free Report) last announced its earnings results on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, hitting 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. The firm's quarterly revenue was up 27.8% compared to the same quarter last year. Research analysts predict that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on LOAR shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $92.00 price objective on shares of Loar in a research report on Tuesday, April 1st. Morgan Stanley raised shares of Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price objective for the company in a research report on Thursday, April 3rd.

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.