Moore Capital Management LP Takes Position in Loar Holdings, LLC (NYSE:LOAR)

Moore Capital Management LP purchased a new position in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 22,292 shares of the company's stock, valued at approximately $1,648,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Sterling Capital Management LLC boosted its stake in shares of 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 acquiring an additional 293 shares during 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 purchased a new position in shares of Loar during the 4th quarter valued at $61,000. Gen Wealth Partners Inc purchased a new position in shares of Loar during the 4th quarter valued at $62,000. Finally, R Squared Ltd purchased a new position in shares of Loar during the 4th quarter valued at $95,000.

Analyst Upgrades and Downgrades

LOAR has been the topic of a number of analyst reports. Citigroup lifted their target price on shares of Loar from $91.00 to $99.00 and gave the company a "buy" rating in a research note on Thursday. Royal Bank of Canada restated an "outperform" rating and set a $92.00 target price on shares of Loar in a research note on Tuesday, April 1st. Finally, Morgan Stanley upgraded shares of Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 target price on the stock in a research note on Thursday, April 3rd.

Loar Price Performance

LOAR stock traded up $1.92 during mid-day trading on Friday, hitting $85.59. The company had a trading volume of 3,595,602 shares, compared to its average volume of 481,450. The company has a market capitalization of $8.01 billion and a price-to-earnings ratio of 356.63. Loar Holdings, LLC has a 12-month low of $49.62 and a 12-month 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. The company has a 50-day moving average price of $81.31 and a 200 day moving average price of $79.49.

Loar (NYSE:LOAR - Get Free Report) last announced 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 analysts' expectations of $102.51 million. The company's quarterly revenue was up 27.8% on a year-over-year basis. On average, research analysts anticipate that Loar Holdings, LLC will post 0.28 earnings per share 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.