GAMMA Investing LLC Boosts Holdings in Loar Holdings Inc. (NYSE:LOAR)

GAMMA Investing LLC boosted its position in Loar Holdings Inc. (NYSE:LOAR - Free Report) by 21,442.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 26,282 shares of the company's stock after purchasing an additional 26,160 shares during the period. GAMMA Investing LLC's holdings in Loar were worth $1,857,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. California State Teachers Retirement System boosted its stake in Loar by 184.3% in the fourth quarter. California State Teachers Retirement System now owns 2,226 shares of the company's stock valued at $165,000 after acquiring an additional 1,443 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Loar during the 4th quarter valued at approximately $2,978,000. Polar Asset Management Partners Inc. lifted its stake in shares of Loar by 343.9% during the 4th quarter. Polar Asset Management Partners Inc. now owns 18,200 shares of the company's stock valued at $1,345,000 after buying an additional 14,100 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Loar by 950.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 40,299 shares of the company's stock valued at $2,978,000 after buying an additional 36,463 shares in the last quarter. Finally, Woodline Partners LP lifted its stake in shares of Loar by 156.0% during the 4th quarter. Woodline Partners LP now owns 83,928 shares of the company's stock valued at $6,203,000 after buying an additional 51,149 shares in the last quarter.

Insider Activity at Loar

In other Loar news, Director Paul S. Levy sold 175,923 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $80.91, for a total value of $14,233,929.93. Following the sale, the director now owns 8,012,580 shares of the company's stock, valued at $648,297,847.80. This trade represents a 2.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael J. Manella sold 130,744 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $80.91, for a total transaction of $10,578,497.04. Following the completion of the sale, the insider now directly owns 449,644 shares in the company, valued at approximately $36,380,696.04. This trade represents a 22.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,742,872 shares of company stock valued at $464,655,774. Insiders own 22.60% of the company's stock.

Loar Price Performance

NYSE:LOAR traded up $1.30 during midday trading on Wednesday, hitting $82.34. The company had a trading volume of 1,093,032 shares, compared to its average volume of 557,827. Loar Holdings Inc. has a 52-week low of $51.50 and a 52-week high of $99.67. The stock's fifty day moving average price is $88.40 and its 200-day moving average price is $79.35. The company has a market capitalization of $7.70 billion, a PE ratio of 216.70 and a beta of 0.32. The company has a quick ratio of 3.21, a current ratio of 5.13 and a debt-to-equity ratio of 0.25.

Loar (NYSE:LOAR - Get Free Report) last released its earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. Loar had a net margin of 8.29% and a return on equity of 5.23%. The company had revenue of $110.40 million for the quarter, compared to analyst estimates of $102.51 million. The business's quarterly revenue was up 27.8% on a year-over-year basis. As a group, research analysts expect that Loar Holdings Inc. will post 0.28 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on LOAR shares. Royal Bank Of Canada restated an "outperform" rating and set a $92.00 price target on shares of Loar in a research note on Tuesday, April 1st. Citigroup upped their price target on shares of Loar from $91.00 to $99.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen cut shares of Loar from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Morgan Stanley started coverage on shares of Loar in a report on Friday, May 23rd. They set an "overweight" rating and a $100.00 target price on the stock.

Loar 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.