Alyeska Investment Group L.P. Has $35.48 Million Stock Position in Loar Holdings Inc. $LOAR

Key Points

• Alyeska Investment Group L.P. reduced its holdings in Loar Holdings Inc. by 22.7% in the first quarter, owning approximately 502,200 shares valued at $35.48 million after selling 147,800 shares.
• Several hedge funds, including GAMMA Investing LLC and Caitong International Asset Management, significantly increased their stakes in Loar, with Caitong boosting its position by over 5,286%.
• Loar Holdings reported earnings of $0.23 per share for the most recent quarter, exceeding expectations and showing a 26.8% year-over-year revenue growth.

Alyeska Investment Group L.P. lowered its holdings in Loar Holdings Inc. (NYSE:LOAR - Free Report) by 22.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 502,200 shares of the company's stock after selling 147,800 shares during the quarter. Alyeska Investment Group L.P. owned 0.54% of Loar worth $35,480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Loar by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 2,735,157 shares of the company's stock worth $193,239,000 after acquiring an additional 13,832 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of Loar by 232.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,601,485 shares of the company's stock worth $113,145,000 after acquiring an additional 1,119,958 shares during the period. Invesco Ltd. lifted its position in shares of Loar by 38.5% in the 1st quarter. Invesco Ltd. now owns 1,179,384 shares of the company's stock worth $83,323,000 after acquiring an additional 327,888 shares during the period. Federated Hermes Inc. lifted its position in shares of Loar by 13.8% in the 1st quarter. Federated Hermes Inc. now owns 1,136,653 shares of the company's stock worth $80,305,000 after acquiring an additional 137,920 shares during the period. Finally, Fred Alger Management LLC lifted its position in shares of Loar by 164.0% in the 4th quarter. Fred Alger Management LLC now owns 555,366 shares of the company's stock worth $41,047,000 after acquiring an additional 345,036 shares during the period.

Loar Price Performance

Shares of Loar stock traded up $0.18 during midday trading on Tuesday, hitting $78.43. 246,984 shares of the company were exchanged, compared to its average volume of 837,830. The company has a debt-to-equity ratio of 0.25, a current ratio of 6.15 and a quick ratio of 4.01. The firm has a market cap of $7.34 billion, a P/E ratio of 170.56 and a beta of 0.10. Loar Holdings Inc. has a 52 week low of $62.10 and a 52 week high of $99.67. The firm has a 50 day simple moving average of $74.11 and a 200-day simple moving average of $78.57.

Loar (NYSE:LOAR - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. Loar had a return on equity of 5.50% and a net margin of 9.82%.The business had revenue of $123.12 million during the quarter, compared to the consensus estimate of $122.17 million. During the same quarter last year, the company earned $0.13 EPS. Loar's revenue was up 26.8% on a year-over-year basis. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. Research analysts forecast that Loar Holdings Inc. will post 0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Citigroup raised their price objective on Loar from $91.00 to $99.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Wall Street Zen upgraded Loar from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Finally, Morgan Stanley began coverage on Loar in a research report on Friday, May 23rd. They issued an "overweight" rating and a $100.00 price objective for the company. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Loar has a consensus rating of "Buy" and a consensus target price of $97.00.

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.