Polar Asset Management Partners Inc. Grows Position in Loar Holdings, LLC (NYSE:LOAR)

Polar Asset Management Partners Inc. increased its holdings in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) by 343.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,200 shares of the company's stock after acquiring an additional 14,100 shares during the period. Polar Asset Management Partners Inc.'s holdings in Loar were worth $1,345,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Public Employees Retirement System of Ohio raised its position in Loar by 950.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 40,299 shares of the company's stock worth $2,978,000 after purchasing an additional 36,463 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Loar by 156.0% during the fourth quarter. Woodline Partners LP now owns 83,928 shares of the company's stock valued at $6,203,000 after acquiring an additional 51,149 shares during the period. State of Wyoming bought a new position in Loar in the fourth quarter valued at about $53,000. Seven Grand Managers LLC increased its position in Loar by 10.0% in the fourth quarter. Seven Grand Managers LLC now owns 110,000 shares of the company's stock worth $8,130,000 after purchasing an additional 10,000 shares during the period. Finally, Silvercrest Asset Management Group LLC raised its holdings in Loar by 3.0% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 37,751 shares of the company's stock worth $2,790,000 after purchasing an additional 1,100 shares during the last quarter.

Insider Activity at Loar

In related news, Director Alison Bomberg sold 690,258 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $80.91, for a total transaction of $55,848,774.78. Following the sale, the director now directly owns 31,438,420 shares in the company, valued at approximately $2,543,682,562.20. This represents a 2.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David C. Abrams sold 703,691 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $80.91, for a total transaction of $56,935,638.81. Following the completion of the transaction, the director now owns 32,050,240 shares of the company's stock, valued at $2,593,184,918.40. This trade represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,742,872 shares of company stock valued at $464,655,774.

Loar Stock Performance

Loar stock traded up $0.60 during mid-day trading on Friday, hitting $86.99. 986,454 shares of the company's stock traded hands, compared to its average volume of 727,914. The firm has a 50 day simple moving average of $84.86 and a two-hundred day simple moving average of $79.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. The stock has a market cap of $8.14 billion and a price-to-earnings ratio of 228.92. Loar Holdings, LLC has a fifty-two week low of $50.45 and a fifty-two week high of $99.67.

Loar (NYSE:LOAR - Get Free Report) last posted its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $110.40 million for the quarter, compared to the consensus estimate of $102.51 million. The company's revenue for the quarter was up 27.8% on a year-over-year basis. On average, research analysts expect that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LOAR. Royal Bank of Canada reiterated an "outperform" rating and set a $92.00 price target on shares of Loar in a research report on Tuesday, April 1st. Citigroup raised their price objective 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 raised shares of Loar from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Morgan Stanley initiated coverage on Loar in a research note on Friday, May 23rd. They issued an "overweight" rating and a $100.00 target price for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Loar currently has an average rating of "Buy" and a consensus target price of $89.00.

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.