PDT Partners LLC Makes New Investment in Loar Holdings, LLC (NYSE:LOAR)

PDT Partners LLC bought a new position in Loar Holdings, LLC (NYSE:LOAR - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 21,930 shares of the company's stock, valued at approximately $1,636,000.

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

Wall Street Analysts Forecast Growth

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

Loar Stock Down 1.1 %

LOAR stock traded down $0.97 during midday trading on Monday, reaching $91.11. The stock had a trading volume of 216,249 shares, compared to its average volume of 298,387. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. The firm has a fifty day simple moving average of $81.89 and a two-hundred day simple moving average of $69.52. Loar Holdings, LLC has a 52-week low of $42.57 and a 52-week high of $96.60.

Loar (NYSE:LOAR - Get Free Report) last issued its earnings results on Wednesday, November 13th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.02. The company had revenue of $103.52 million during the quarter, compared to analysts' expectations of $97.30 million. The business's revenue for the quarter was up 25.0% compared to the same quarter last year. On average, research analysts forecast 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.