Malaga Cove Capital LLC Purchases New Holdings in Loar Holdings, LLC (NYSE:LOAR)

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

Other hedge funds have also bought and sold shares of the company. Sterling Capital Management LLC raised 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 purchasing an additional 293 shares in the last quarter. Corebridge Financial Inc. increased its position in Loar by 174.3% during the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company's stock worth $39,000 after purchasing an additional 333 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Loar during the 4th quarter valued at $61,000. Gen Wealth Partners Inc acquired a new position in shares of Loar in the fourth quarter valued at approximately $62,000. Finally, R Squared Ltd bought a new position in Loar during the 4th quarter worth $95,000.

Loar Price Performance

NYSE:LOAR traded down $0.41 during midday trading on Monday, hitting $85.18. The company had a trading volume of 1,766,518 shares, compared to its average volume of 486,650. The stock's fifty day moving average price is $81.31 and its 200-day moving average price is $79.49. The company has a market capitalization of $7.97 billion and a PE ratio of 224.16. 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 released its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, meeting analysts' consensus estimates of $0.11. The company had revenue of $110.40 million for the quarter, compared to analysts' expectations of $102.51 million. Loar's revenue was up 27.8% compared to the same quarter last year. As a group, research analysts expect that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

LOAR has been the subject of a number of analyst reports. Royal Bank of Canada reissued an "outperform" rating and set a $92.00 target price on shares of Loar in a research note on Tuesday, April 1st. Citigroup raised their price objective on shares of 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 report on Thursday, April 3rd.

Loar 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.