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Insider Selling: Loar Holdings, LLC (NYSE:LOAR) Director Sells 987,248 Shares of Stock

Loar logo with Aerospace background

Loar Holdings, LLC (NYSE:LOAR - Get Free Report) Director Raja Bobbili sold 987,248 shares of the firm's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $81.17, for a total transaction of $80,134,920.16. Following the sale, the director now owns 36,713,441 shares of the company's stock, valued at approximately $2,980,030,005.97. This represents a 2.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Loar Price Performance

Loar stock traded up $0.73 during mid-day trading on Monday, reaching $79.87. 728,639 shares of the stock traded hands, compared to its average volume of 336,846. Loar Holdings, LLC has a 12-month low of $42.57 and a 12-month high of $96.99. The business's 50-day moving average is $84.38 and its 200-day moving average is $71.58. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78.

Loar (NYSE:LOAR - Get Free Report) last released its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 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. The firm's quarterly revenue was up 25.0% on a year-over-year basis. Equities research analysts anticipate that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on LOAR shares. Morgan Stanley lifted their price objective on Loar from $75.00 to $89.00 and gave the stock an "equal weight" rating in a report on Monday, November 18th. Citigroup raised their price target on shares of Loar from $64.00 to $88.00 and gave the company a "buy" rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $100.00 price objective on shares of Loar in a report on Thursday, November 14th.

Read Our Latest Stock Analysis on Loar

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Select Equity Group L.P. purchased a new position in shares of Loar during the 2nd quarter valued at about $911,000. Emerald Advisers LLC bought a new stake in Loar during the 2nd quarter worth approximately $1,146,000. Lisanti Capital Growth LLC purchased a new position in Loar during the third quarter valued at approximately $2,667,000. The Manufacturers Life Insurance Company bought a new position in shares of Loar in the third quarter worth approximately $1,247,000. Finally, Abrams Capital Management L.P. bought a new position in shares of Loar in the second quarter worth approximately $2,052,780,000.

About Loar

(Get 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.

Further Reading

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