Renaissance Capital LLC Has $4.31 Million Stock Position in Loar Holdings, LLC (NYSE:LOAR)

Renaissance Capital LLC boosted its position in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) by 411.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,275 shares of the company's stock after buying an additional 46,883 shares during the quarter. Loar makes up approximately 2.8% of Renaissance Capital LLC's holdings, making the stock its 18th largest holding. Renaissance Capital LLC owned about 0.06% of Loar worth $4,307,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. nVerses Capital LLC bought a new stake in shares of Loar during the third quarter worth $45,000. R Squared Ltd bought a new stake in Loar during the 4th quarter worth about $95,000. Barclays PLC lifted its position in Loar by 871.3% during the 3rd quarter. Barclays PLC now owns 2,943 shares of the company's stock valued at $219,000 after purchasing an additional 2,640 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Loar in the 3rd quarter valued at about $230,000. Finally, Holocene Advisors LP acquired a new stake in shares of Loar during the 3rd quarter worth approximately $267,000.

Analyst Upgrades and Downgrades

LOAR has been the topic of several analyst reports. Morgan Stanley increased their price objective on shares of 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 reissued an "outperform" rating and issued a $100.00 price target on shares of Loar in a research note on Thursday, November 14th.

Loar Price Performance

Loar stock traded up $1.42 during midday trading on Friday, hitting $77.63. 397,372 shares of the stock were exchanged, compared to its average volume of 337,703. The company has a fifty day simple moving average of $79.08 and a two-hundred day simple moving average of $76.64. 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 Holdings, LLC has a 52 week low of $42.57 and a 52 week high of $96.99.

Loar (NYSE:LOAR - Get Free Report) last announced its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.02. The firm had revenue of $103.52 million for the quarter, compared to the consensus estimate of $97.30 million. Loar's revenue for the quarter was up 25.0% compared to the same quarter last year. On average, sell-side analysts predict that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Insider Buying and Selling at Loar

In other news, insider Michael J. Manella sold 28,153 shares of Loar stock in a transaction dated 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Brett N. Milgrim sold 120,305 shares of the business's stock in a transaction that occurred on 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 owns 3,865,327 shares of the company's stock, valued at $313,748,592.59. This represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,135,706 shares of company stock valued at $92,185,256.

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.