Nicholas Investment Partners LP Invests $3.02 Million in Loar Holdings, LLC (NYSE:LOAR)

Nicholas Investment Partners LP purchased a new stake in Loar Holdings, LLC (NYSE:LOAR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 40,920 shares of the company's stock, valued at approximately $3,024,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Moore Capital Management LP acquired a new position in Loar in the 4th quarter valued at about $1,648,000. LMR Partners LLP purchased a new stake in shares of Loar during the 4th quarter worth approximately $5,174,000. Lighthouse Investment Partners LLC purchased a new stake in shares of Loar during the 4th quarter worth approximately $317,000. Gen Wealth Partners Inc purchased a new stake in shares of Loar during the 4th quarter worth approximately $62,000. Finally, Fortress Investment Group LLC purchased a new stake in shares of Loar during the 4th quarter worth approximately $739,000.

Analyst Ratings Changes

Several brokerages have recently commented on LOAR. Royal Bank of Canada reissued an "outperform" rating and set a $92.00 price target on shares of Loar in a research note on Tuesday, April 1st. Citigroup lifted their price objective on Loar from $91.00 to $99.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Morgan Stanley upgraded Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price objective for the company in a research report on Thursday, April 3rd.

Loar Trading Up 0.4%

LOAR traded up $0.35 during trading on Monday, hitting $85.94. The company's stock had a trading volume of 504,414 shares, compared to its average volume of 481,627. The firm's 50 day moving average price is $81.31 and its 200-day moving average price is $79.49. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. The stock has a market cap of $8.04 billion and a PE ratio of 226.12. Loar Holdings, LLC has a twelve month low of $49.62 and a twelve month high of $99.67.

Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings results on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $110.40 million during the quarter, compared to analyst estimates of $102.51 million. The company's revenue was up 27.8% on a year-over-year basis. On average, analysts expect 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.