Seven Grand Managers LLC Buys 10,000 Shares of Loar Holdings, LLC (NYSE:LOAR)

Seven Grand Managers LLC raised its position in Loar Holdings, LLC (NYSE:LOAR - Free Report) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,000 shares of the company's stock after purchasing an additional 10,000 shares during the period. Loar comprises about 3.7% of Seven Grand Managers LLC's investment portfolio, making the stock its 11th largest position. Seven Grand Managers LLC owned about 0.12% of Loar worth $8,130,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in LOAR. Sterling Capital Management LLC grew its stake in Loar by 141.5% during the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock worth $37,000 after buying an additional 293 shares during the last quarter. Corebridge Financial Inc. lifted its position in Loar by 174.3% in the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company's stock valued at $39,000 after purchasing an additional 333 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Loar in the 4th quarter valued at about $61,000. Gen Wealth Partners Inc bought a new position in Loar in the 4th quarter worth about $62,000. Finally, R Squared Ltd acquired a new stake in shares of Loar in the fourth quarter valued at approximately $95,000.

Insider Buying and Selling

In other news, insider Michael J. Manella sold 130,744 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $80.91, for a total value of $10,578,497.04. Following the sale, the insider now directly owns 449,644 shares of the company's stock, valued at approximately $36,380,696.04. This represents a 22.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Brett N. Milgrim sold 558,695 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $80.91, for a total value of $45,204,012.45. Following the transaction, the chairman now owns 3,306,632 shares in the company, valued at approximately $267,539,595.12. This trade represents a 14.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,742,872 shares of company stock valued at $464,655,774 in the last 90 days.

Analyst Upgrades and Downgrades

LOAR has been the subject of a number of analyst reports. 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. Royal Bank of Canada restated an "outperform" rating and issued a $92.00 price target on shares of Loar in a research report on Tuesday, April 1st. Finally, Citigroup boosted their price objective on Loar from $91.00 to $99.00 and gave the company a "buy" rating in a research report on Thursday, May 15th.

Loar Price Performance

NYSE:LOAR traded down $0.70 on Wednesday, reaching $82.30. The stock had a trading volume of 699,766 shares, compared to its average volume of 492,455. The stock has a fifty day moving average price of $82.13 and a 200-day moving average price of $79.49. Loar Holdings, LLC has a 1-year low of $50.02 and a 1-year high of $99.67. The company has a market capitalization of $7.70 billion and a P/E ratio of 216.39. 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 earnings results on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $110.40 million during the quarter, compared to the consensus estimate of $102.51 million. The firm's revenue was up 27.8% on a year-over-year basis. Research analysts forecast that Loar Holdings, LLC will post 0.28 EPS 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.