Loar Holdings, LLC (NYSE:LOAR) Short Interest Update

Loar Holdings, LLC (NYSE:LOAR - Get Free Report) was the recipient of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 1,380,000 shares, a decrease of 21.6% from the November 30th total of 1,760,000 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 448,700 shares, the days-to-cover ratio is presently 3.1 days.

Wall Street Analysts Forecast Growth

LOAR has been the topic of several recent research reports. Morgan Stanley raised their price target on Loar from $75.00 to $89.00 and gave the company an "equal weight" rating in a report on Monday, November 18th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $100.00 target price on shares of Loar in a research note on Thursday, November 14th.

Loar Stock Down 2.3 %

Shares of NYSE:LOAR traded down $1.79 during midday trading on Friday, hitting $74.85. The company had a trading volume of 943,768 shares, compared to its average volume of 361,882. 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 has a 12 month low of $42.57 and a 12 month high of $96.99. The firm has a fifty day simple moving average of $84.28 and a 200 day simple moving average of $72.69.

Loar (NYSE:LOAR - Get Free Report) last issued its earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.02. The company had revenue of $103.52 million for the quarter, compared to the consensus estimate of $97.30 million. The business's quarterly revenue was up 25.0% compared to the same quarter last year. As a group, equities research analysts expect that Loar will post 0.28 earnings per share for the current year.

Insiders Place Their Bets

In other Loar news, Chairman Brett N. Milgrim sold 120,305 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $81.17, for a total value of $9,765,156.85. Following the completion of the transaction, the chairman now directly owns 3,865,327 shares of the company's stock, valued at approximately $313,748,592.59. The trade was a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael J. Manella sold 28,153 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $81.17, for a total transaction of $2,285,179.01. Following the transaction, the insider now owns 580,388 shares in the company, valued at $47,110,093.96. The trade was a 4.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,135,706 shares of company stock valued at $92,185,256.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LOAR. Abrams Capital Management L.P. acquired a new position in shares of Loar during the second quarter worth about $2,052,780,000. Lord Abbett & CO. LLC raised its stake in shares of Loar by 71.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company's stock worth $75,303,000 after purchasing an additional 421,637 shares in the last quarter. Federated Hermes Inc. bought a new stake in Loar during the second quarter worth $38,952,000. State Street Corp raised its holdings in shares of Loar by 413.3% in the 3rd quarter. State Street Corp now owns 416,531 shares of the company's stock valued at $31,069,000 after purchasing an additional 335,376 shares during the period. Finally, TimesSquare Capital Management LLC lifted its stake in Loar by 57.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company's stock valued at $30,620,000 after purchasing an additional 149,460 shares during the last quarter.

Loar Company 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.