Emerald Advisers LLC Has $886,000 Stake in Loar Holdings, LLC (NYSE:LOAR)

Emerald Advisers LLC cut its position in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) by 44.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,872 shares of the company's stock after selling 9,580 shares during the quarter. Emerald Advisers LLC's holdings in Loar were worth $886,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LOAR. Renaissance Capital LLC acquired a new stake in Loar in the 2nd quarter valued at $497,000. TCW Group Inc. bought a new stake in Loar during the second quarter worth about $7,366,000. Zweig DiMenna Associates LLC acquired a new position in Loar during the second quarter valued at approximately $9,208,000. Calamos Advisors LLC bought a new position in Loar in the second quarter valued at approximately $492,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Loar during the 2nd quarter worth approximately $439,000.

Analyst Ratings Changes

LOAR has been the subject of several recent analyst reports. Morgan Stanley increased their price objective on Loar from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, October 18th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $80.00 target price on shares of Loar in a report on Monday, October 7th. Finally, Citigroup lifted their price target on Loar from $64.00 to $88.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th.

Loar Stock Performance

Shares of NYSE LOAR traded down $1.35 during mid-day trading on Monday, reaching $87.00. 368,491 shares of the company were exchanged, compared to its average volume of 290,445. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.09 and a current ratio of 4.86. The firm's 50-day moving average is $76.21. Loar Holdings, LLC has a twelve month low of $42.57 and a twelve month high of $92.17.

Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.03. The firm had revenue of $97.10 million for the quarter, compared to the consensus estimate of $91.70 million. The business's revenue was up 31.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Loar Holdings, LLC will post 0.37 EPS for the current year.

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.