Loar Holdings, LLC (NYSE:LOAR) Shares Purchased by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC raised its stake in Loar Holdings, LLC (NYSE:LOAR) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 172,750 shares of the company’s stock after acquiring an additional 7,300 shares during the quarter. Zweig DiMenna Associates LLC owned approximately 0.19% of Loar worth $12,768,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Amalgamated Bank purchased a new stake in Loar during the second quarter valued at about $37,000. nVerses Capital LLC purchased a new stake in Loar during the third quarter valued at about $45,000. Linonia Partnership LP purchased a new stake in Loar during the second quarter valued at about $53,000. Barclays PLC grew its position in Loar by 871.3% during the third quarter. Barclays PLC now owns 2,943 shares of the company’s stock valued at $219,000 after acquiring an additional 2,640 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Loar during the third quarter valued at about $230,000.

Loar Stock Performance

NYSE:LOAR opened at $80.66 on Friday. The business’s 50-day simple moving average is $81.06 and its 200 day simple moving average is $75.10. Loar Holdings, LLC has a one year low of $42.57 and a one year high of $96.99. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78.

Loar (NYSE:LOAR) last released its 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 analyst estimates of $97.30 million. Loar’s revenue was up 25.0% compared to the same quarter last year. Research analysts forecast that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Analyst Ratings Changes

LOAR has been the subject of several analyst reports. 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 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 report on Thursday, November 14th.

Insiders Place Their Bets

In other news, insider Michael J. Manella sold 28,153 shares of Loar 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 $2,285,179.01. Following the completion of the transaction, the insider now owns 580,388 shares in the company, valued at approximately $47,110,093.96. The trade was a 4.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Brett N. Milgrim sold 120,305 shares of the firm’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 transaction of $9,765,156.85. Following the completion of the sale, the chairman now directly owns 3,865,327 shares of the company’s stock, valued at approximately $313,748,592.59. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,135,706 shares of company stock worth $92,185,256 over the last quarter.

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.