Moore Capital Management LP Takes $1.65 Million Position in Loar Holdings, LLC (NYSE:LOAR)

Moore Capital Management LP bought a new stake in Loar Holdings, LLC (NYSE:LOAR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,292 shares of the company's stock, valued at approximately $1,648,000.

Other institutional investors also recently modified their holdings of the company. Barclays PLC lifted its position in Loar by 871.3% during the third quarter. Barclays PLC now owns 2,943 shares of the company's stock worth $219,000 after purchasing an additional 2,640 shares during the period. Zweig DiMenna Associates LLC lifted its position in Loar by 4.4% during the fourth quarter. Zweig DiMenna Associates LLC now owns 172,750 shares of the company's stock worth $12,768,000 after purchasing an additional 7,300 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Loar during the fourth quarter worth about $5,053,000. R Squared Ltd bought a new stake in Loar during the fourth quarter worth about $95,000. Finally, Renaissance Capital LLC boosted its stake in shares of Loar by 411.5% in the 4th quarter. Renaissance Capital LLC now owns 58,275 shares of the company's stock valued at $4,307,000 after purchasing an additional 46,883 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Citigroup raised their price target 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 issued a $92.00 price target 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 price target on the stock in a research note on Thursday, April 3rd.

Loar Trading Up 2.3%

NYSE LOAR traded up $1.92 during trading hours on Friday, reaching $85.59. The company's stock had a trading volume of 3,595,602 shares, compared to its average volume of 480,044. The firm has a fifty day simple moving average of $81.31 and a 200-day simple moving average of $79.59. The stock has a market cap of $8.01 billion and a P/E ratio of 356.63. Loar Holdings, LLC has a 52 week low of $49.62 and a 52 week high of $99.67. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28.

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

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.