Verition Fund Management LLC Takes $727,000 Position in Loar Holdings, LLC (NYSE:LOAR)

Verition Fund Management LLC purchased a new stake in Loar Holdings, LLC (NYSE:LOAR - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,742 shares of the company's stock, valued at approximately $727,000.

Several other hedge funds have also bought and sold shares of LOAR. Captrust Financial Advisors increased its holdings in shares of Loar by 9.8% during the 3rd quarter. Captrust Financial Advisors now owns 10,471 shares of the company's stock valued at $781,000 after purchasing an additional 938 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Loar by 3,444.3% in the third quarter. BNP Paribas Financial Markets now owns 10,633 shares of the company's stock valued at $793,000 after buying an additional 10,333 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Loar in the third quarter worth about $1,247,000. Loomis Sayles & Co. L P boosted its stake in shares of Loar by 47.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 275,500 shares of the company's stock worth $20,550,000 after acquiring an additional 88,429 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Loar by 52.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 106,897 shares of the company's stock worth $7,973,000 after acquiring an additional 36,701 shares in the last quarter.

Loar Trading Down 3.7 %

Shares of NYSE LOAR traded down $3.36 during mid-day trading on Tuesday, reaching $87.72. 536,702 shares of the company's stock were exchanged, compared to its average volume of 301,759. Loar Holdings, LLC has a 52-week low of $42.57 and a 52-week high of $96.99. The company's 50-day moving average is $83.88 and its 200-day moving average is $71.02. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on LOAR shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $100.00 price target on shares of Loar in a report on Thursday, November 14th. Morgan Stanley upped 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. Finally, Citigroup lifted their price target on shares of Loar from $64.00 to $88.00 and gave the company a "buy" rating in a research note on Tuesday, August 20th.

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.