Ovata Capital Management Ltd Invests $3.70 Million in Loar Holdings, LLC (NYSE:LOAR)

Ovata Capital Management Ltd purchased 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 & Exchange Commission. The firm purchased 50,000 shares of the company's stock, valued at approximately $3,696,000. Loar makes up 1.4% of Ovata Capital Management Ltd's investment portfolio, making the stock its 18th largest holding. Ovata Capital Management Ltd owned 0.06% of Loar at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of LOAR. Pamalican Asset Management Ltd acquired a new position in Loar in the fourth quarter valued at about $3,226,000. Discovery Capital Management LLC CT bought a new position in Loar during the 4th quarter worth approximately $4,435,000. Geode Capital Management LLC grew its holdings in Loar by 93.9% during the fourth quarter. Geode Capital Management LLC now owns 340,487 shares of the company's stock valued at $25,172,000 after purchasing an additional 164,912 shares during the period. Franklin Resources Inc. increased its stake in Loar by 1.1% in the fourth quarter. Franklin Resources Inc. now owns 190,825 shares of the company's stock valued at $14,104,000 after purchasing an additional 2,059 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Loar in the fourth quarter worth $1,585,000.

Loar Stock Down 4.3 %

Shares of Loar stock traded down $3.67 on Thursday, reaching $81.80. 313,708 shares of the company were exchanged, compared to its average volume of 464,516. The company has a market capitalization of $7.65 billion and a price-to-earnings ratio of 340.81. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. Loar Holdings, LLC has a one year low of $42.57 and a one year high of $96.99. The company has a 50-day moving average of $70.67 and a 200 day moving average of $77.02.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Royal Bank of Canada restated an "outperform" rating and issued a $92.00 price target on shares of Loar in a report on Tuesday, April 1st. Morgan Stanley upgraded shares of Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price target 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.