Loar Holdings Inc. $LOAR Shares Sold by Renaissance Capital LLC

Key Points

• Renaissance Capital LLC decreased its holdings in Loar Holdings Inc. by 27.8%, selling 16,412 shares and now owning 42,614 shares valued at approximately $3.67 million.
• Loar received an upgrade to a "buy" rating from Wall Street Zen, contributing to a consensus rating of "buy" with a price target of $97.00.
• In its recent earnings report, Loar posted a Q2 EPS of $0.23, exceeding estimates, and reported a 26.8% year-over-year revenue growth totaling $123.12 million.

Renaissance Capital LLC trimmed its position in shares of Loar Holdings Inc. (NYSE:LOAR - Free Report) by 27.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,614 shares of the company's stock after selling 16,412 shares during the period. Loar accounts for approximately 2.6% of Renaissance Capital LLC's holdings, making the stock its 16th biggest position. Renaissance Capital LLC's holdings in Loar were worth $3,672,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Loar by 0.3% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,436 shares of the company's stock worth $2,857,000 after buying an additional 139 shares in the last quarter. Huntleigh Advisors Inc. grew its stake in shares of Loar by 1.6% in the first quarter. Huntleigh Advisors Inc. now owns 11,477 shares of the company's stock worth $811,000 after purchasing an additional 182 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Loar by 204.9% in the first quarter. GAMMA Investing LLC now owns 372 shares of the company's stock worth $26,000 after purchasing an additional 250 shares in the last quarter. Amalgamated Bank grew its stake in shares of Loar by 13.1% in the first quarter. Amalgamated Bank now owns 2,261 shares of the company's stock worth $160,000 after purchasing an additional 261 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in Loar by 16.1% in the 1st quarter. MetLife Investment Management LLC now owns 2,014 shares of the company's stock valued at $142,000 after buying an additional 279 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Loar from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, Loar has a consensus rating of "Buy" and a consensus price target of $97.00.

Loar Stock Performance

Shares of LOAR opened at $78.59 on Tuesday. Loar Holdings Inc. has a one year low of $62.10 and a one year high of $99.67. The company has a 50-day moving average of $74.03 and a two-hundred day moving average of $79.73. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 170.85 and a beta of 0.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 6.15 and a quick ratio of 4.01.

Loar (NYSE:LOAR - Get Free Report) last announced 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 net margin of 9.82% and a return on equity of 5.50%. The company had revenue of $123.12 million during the quarter, compared to analysts' expectations of $122.17 million. During the same period last year, the company posted $0.13 earnings per share. The business's revenue for the quarter was up 26.8% on a year-over-year basis. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. On average, equities research analysts expect that Loar Holdings Inc. will post 0.28 earnings per share for the current year.

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.

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