Malaga Cove Capital LLC Acquires Shares of 3,077 Loar Holdings, LLC (NYSE:LOAR)

Malaga Cove Capital LLC bought a new stake in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,077 shares of the company's stock, valued at approximately $227,000.

Several other institutional investors have also added to or reduced their stakes in LOAR. Sterling Capital Management LLC increased its stake 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 buying an additional 293 shares in the last quarter. Corebridge Financial Inc. grew its holdings in 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. Barclays PLC raised its position in shares of Loar by 12.1% during the fourth quarter. Barclays PLC now owns 3,298 shares of the company's stock valued at $243,000 after buying an additional 355 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Loar by 4.4% in the fourth quarter. Captrust Financial Advisors now owns 10,935 shares of the company's stock worth $808,000 after buying an additional 464 shares in the last quarter. Finally, Arcadia Investment Management Corp MI bought a new position in shares of Loar during the fourth quarter worth $61,000.

Wall Street Analyst Weigh In

Several research analysts have commented on LOAR shares. 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 report on Thursday, April 3rd. Citigroup raised their price objective on Loar from $91.00 to $99.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $92.00 price objective on shares of Loar in a research note on Tuesday, April 1st.

Loar Trading Down 2.7%

Shares of Loar stock traded down $2.32 on Tuesday, hitting $82.62. 341,158 shares of the company traded hands, compared to its average volume of 486,212. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. The company has a market cap of $7.73 billion and a PE ratio of 217.10. The stock's 50 day moving average price is $81.74 and its 200-day moving average price is $79.46. Loar Holdings, LLC has a 52 week low of $49.62 and a 52 week high of $99.67.

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

Insider Transactions at Loar

In related news, insider Dirkson R. Charles sold 589,605 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $80.91, for a total transaction of $47,704,940.55. Following the sale, the insider now directly owns 4,131,772 shares of the company's stock, valued at approximately $334,301,672.52. This represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Paul S. Levy sold 1,168,499 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $80.91, for a total transaction of $94,543,254.09. Following the sale, the director now directly owns 8,188,503 shares in the company, valued at approximately $662,531,777.73. The trade was a 12.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,968,407 shares of company stock valued at $240,173,810 in the last quarter.

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.