Bamco Inc. NY Sells 224,198 Shares of Loar Holdings, LLC (NYSE:LOAR)

Bamco Inc. NY cut its holdings in Loar Holdings, LLC (NYSE:LOAR - Free Report) by 74.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 75,802 shares of the company's stock after selling 224,198 shares during the quarter. Bamco Inc. NY owned 0.08% of Loar worth $5,654,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in LOAR. Abrams Capital Management L.P. acquired a new position in shares of Loar during the second quarter worth approximately $2,052,780,000. Federated Hermes Inc. bought a new position in Loar in the 2nd quarter valued at $38,952,000. Fred Alger Management LLC bought a new position in Loar in the 2nd quarter valued at $13,085,000. Zweig DiMenna Associates LLC bought a new position in Loar in the 2nd quarter valued at $9,208,000. Finally, TimesSquare Capital Management LLC grew its stake in shares of Loar by 57.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company's stock worth $30,620,000 after acquiring an additional 149,460 shares during the period.

Analyst Ratings Changes

Several research firms have recently weighed in on LOAR. Royal Bank of Canada reiterated an "outperform" rating and set a $100.00 price target on shares of Loar in a research note on Thursday, November 14th. Morgan Stanley boosted their target price on Loar from $75.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Monday, November 18th. Finally, Citigroup boosted their target price on Loar from $64.00 to $88.00 and gave the stock a "buy" rating in a research report on Tuesday, August 20th.

Loar Stock Performance

Shares of LOAR traded up $2.77 during mid-day trading on Wednesday, hitting $91.81. 232,034 shares of the company's stock traded hands, compared to its average volume of 299,517. 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 Holdings, LLC has a 1 year low of $42.57 and a 1 year high of $96.60. The business's 50-day moving average price is $82.56 and its 200-day moving average price is $69.94.

Loar (NYSE:LOAR - Get Free Report) last posted its earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. The business had revenue of $103.52 million for the quarter, compared to analysts' expectations of $97.30 million. Loar's revenue was up 25.0% compared to the same quarter last year. As a group, equities analysts predict 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.