Discovery Capital Management LLC CT purchased a new position in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 60,000 shares of the company's stock, valued at approximately $4,435,000. Discovery Capital Management LLC CT owned 0.07% of Loar as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Corebridge Financial Inc. lifted its position in shares of Loar by 174.3% during the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company's stock worth $39,000 after acquiring an additional 333 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Loar during the 4th quarter worth approximately $61,000. R Squared Ltd bought a new position in Loar in the 4th quarter valued at $95,000. Amalgamated Bank grew its position in shares of Loar by 190.7% during the 4th quarter. Amalgamated Bank now owns 2,000 shares of the company's stock valued at $148,000 after purchasing an additional 1,312 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new position in shares of Loar in the fourth quarter worth $201,000.
Loar Price Performance
NYSE LOAR traded down $6.56 during trading hours on Friday, reaching $69.19. 829,211 shares of the stock traded hands, compared to its average volume of 412,536. The stock has a 50 day simple moving average of $70.68 and a two-hundred day simple moving average of $76.90. Loar Holdings, LLC has a 1 year low of $42.57 and a 1 year high of $96.99. 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 company has a market cap of $6.47 billion and a price-to-earnings ratio of 288.30.
Loar (NYSE:LOAR - Get Free Report) last released its earnings results on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, hitting 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. The business's revenue for the quarter was up 27.8% on a year-over-year basis. On average, analysts predict that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on LOAR shares. Royal Bank of Canada reissued an "outperform" rating and set a $92.00 price objective on shares of Loar in a research note on Tuesday. Morgan Stanley raised Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price objective for the company in a report on Thursday.
View Our Latest Analysis on Loar
About Loar
(
Free Report)
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.
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