Lighthouse Investment Partners LLC Makes New $317,000 Investment in Loar Holdings, LLC (NYSE:LOAR)

Lighthouse Investment Partners LLC acquired a new stake in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,289 shares of the company's stock, valued at approximately $317,000.

Other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC increased its holdings in Loar by 141.5% in the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock worth $37,000 after acquiring an additional 293 shares in the last quarter. Corebridge Financial Inc. lifted its stake in shares of Loar by 174.3% during the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company's stock valued at $39,000 after buying an additional 333 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in Loar in the 4th quarter worth $61,000. Gen Wealth Partners Inc purchased a new stake in Loar in the 4th quarter worth $62,000. Finally, R Squared Ltd bought a new stake in Loar during the fourth quarter valued at about $95,000.

Loar Trading Down 0.5%

NYSE:LOAR traded down $0.41 during mid-day trading on Monday, hitting $85.18. 1,789,485 shares of the stock traded hands, compared to its average volume of 486,682. The stock has a market capitalization of $7.97 billion and a price-to-earnings ratio of 224.16. The firm's 50 day moving average is $81.31 and its two-hundred day moving average is $79.49. Loar Holdings, LLC has a 52 week low of $49.62 and a 52 week high of $99.67. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Royal Bank of Canada reiterated an "outperform" rating and set a $92.00 target price on shares of Loar in a research report on Tuesday, April 1st. Citigroup upped their price objective on Loar from $91.00 to $99.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Morgan Stanley raised shares of Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price objective for the company in a research note on Thursday, April 3rd.

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.