Legato Capital Management LLC Purchases 7,528 Shares of Loar Holdings, LLC (NYSE:LOAR)

Legato Capital Management LLC raised its position in shares of Loar Holdings, LLC (NYSE:LOAR) by 123.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,604 shares of the company’s stock after acquiring an additional 7,528 shares during the quarter. Legato Capital Management LLC’s holdings in Loar were worth $1,005,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. State Street Corp boosted its position in shares of Loar by 413.3% in the 3rd quarter. State Street Corp now owns 416,531 shares of the company’s stock worth $31,069,000 after purchasing an additional 335,376 shares in the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of Loar in the 3rd quarter worth approximately $2,667,000. The Manufacturers Life Insurance Company bought a new stake in shares of Loar in the 3rd quarter worth approximately $1,247,000. BNP Paribas Financial Markets boosted its position in shares of Loar by 3,444.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,633 shares of the company’s stock worth $793,000 after purchasing an additional 10,333 shares in the last quarter. Finally, Renaissance Capital LLC boosted its position in shares of Loar by 411.5% in the 4th quarter. Renaissance Capital LLC now owns 58,275 shares of the company’s stock worth $4,307,000 after purchasing an additional 46,883 shares in the last quarter.

Insider Buying and Selling at Loar

In other news, Director Raja Bobbili sold 987,248 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $81.17, for a total transaction of $80,134,920.16. Following the completion of the sale, the director now owns 36,713,441 shares of the company’s stock, valued at $2,980,030,005.97. The trade was a 2.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael J. Manella sold 28,153 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $81.17, for a total transaction of $2,285,179.01. Following the sale, the insider now directly owns 580,388 shares of the company’s stock, valued at approximately $47,110,093.96. The trade was a 4.63 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,135,706 shares of company stock worth $92,185,256.

Loar Stock Down 5.8 %

Shares of LOAR opened at $69.77 on Friday. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. The firm has a fifty day simple moving average of $77.90 and a two-hundred day simple moving average of $77.17. Loar Holdings, LLC has a 1-year low of $42.57 and a 1-year high of $96.99.

Loar (NYSE:LOAR) last announced its earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s revenue was up 25.0% on a year-over-year basis. On average, equities research analysts expect that Loar Holdings, LLC will post 0.28 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price target on shares of Loar in a research report on Thursday, November 14th. Morgan Stanley boosted their price objective on shares of Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th.

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.