Kingdon Capital Management L.L.C. Boosts Holdings in Loar Holdings Inc. $LOAR

Key Points

• Kingdon Capital Management L.L.C. increased its holdings in Loar Holdings Inc. by 33.3% in the 1st quarter, owning a total of 100,000 shares valued at approximately $7,065,000.
• Loar Holdings has received a consensus "Buy" rating from analysts, with an average target price of $97.00, reflecting positive growth forecasts.
• Loar reported a 26.8% year-over-year revenue increase, with earnings per share of $0.23 for the last quarter, surpassing analysts' expectations.

Kingdon Capital Management L.L.C. raised its stake in shares of Loar Holdings Inc. (NYSE:LOAR - Free Report) by 33.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,000 shares of the company's stock after purchasing an additional 25,000 shares during the period. Kingdon Capital Management L.L.C. owned 0.11% of Loar worth $7,065,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Driehaus Capital Management LLC grew its position in Loar by 2.8% in the first quarter. Driehaus Capital Management LLC now owns 350,741 shares of the company's stock worth $24,780,000 after acquiring an additional 9,597 shares in the last quarter. MetLife Investment Management LLC increased its stake in Loar by 16.1% during the first quarter. MetLife Investment Management LLC now owns 2,014 shares of the company's stock worth $142,000 after acquiring an additional 279 shares during the last quarter. Jump Financial LLC bought a new stake in Loar during the first quarter worth approximately $219,000. T. Rowe Price Investment Management Inc. increased its stake in Loar by 232.6% during the first 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 last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in Loar by 5,286.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company's stock worth $57,000 after purchasing an additional 793 shares during the period.

Wall Street Analysts Forecast Growth

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

Loar Stock Performance

Shares of LOAR traded down $0.46 during trading hours on Thursday, reaching $73.25. 234,707 shares of the company traded hands, compared to its average volume of 837,562. The stock has a market capitalization of $6.86 billion, a P/E ratio of 159.16 and a beta of 0.09. The company has a quick ratio of 4.01, a current ratio of 6.15 and a debt-to-equity ratio of 0.25. Loar Holdings Inc. has a 12-month low of $62.10 and a 12-month high of $99.67. The business has a fifty day moving average price of $74.74 and a 200-day moving average price of $78.29.

Loar (NYSE:LOAR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. The firm had revenue of $123.12 million for the quarter, compared to analyst estimates of $122.17 million. Loar had a net margin of 9.82% and a return on equity of 5.50%. The business's quarterly revenue was up 26.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. Equities analysts anticipate that Loar Holdings Inc. will post 0.28 EPS for the current fiscal year.

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.