Walleye Capital LLC Purchases New Stake in Loar Holdings, LLC (NYSE:LOAR)

Walleye Capital LLC purchased a new stake in shares of Loar Holdings, LLC (NYSE:LOAR) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 118,892 shares of the company’s stock, valued at approximately $8,787,000. Walleye Capital LLC owned approximately 0.13% of Loar at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of LOAR. Sterling Capital Management LLC boosted its position in shares of Loar by 141.5% during the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock valued at $37,000 after buying an additional 293 shares during the last quarter. Corebridge Financial Inc. lifted its stake in Loar by 174.3% during the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock valued at $39,000 after acquiring an additional 333 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Loar during the 4th quarter worth $61,000. R Squared Ltd bought a new stake in shares of Loar in the 4th quarter worth $95,000. Finally, Amalgamated Bank raised its holdings in shares of Loar by 190.7% in the fourth quarter. Amalgamated Bank now owns 2,000 shares of the company’s stock valued at $148,000 after purchasing an additional 1,312 shares during the last quarter.

Analysts Set New Price Targets

LOAR has been the topic of several analyst reports. Morgan Stanley upgraded shares of Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price target on the stock in a report on Thursday, April 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $92.00 target price on shares of Loar in a research note on Tuesday, April 1st.

Loar Trading Up 1.2 %

Shares of LOAR stock opened at $88.61 on Wednesday. Loar Holdings, LLC has a 12-month low of $42.57 and a 12-month high of $96.99. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78. The company has a 50 day moving average of $71.51 and a 200-day moving average of $77.39. The firm has a market cap of $8.29 billion and a P/E ratio of 369.21.

Loar (NYSE:LOAR) last posted its quarterly earnings results on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $110.40 million for the quarter, compared to the consensus estimate of $102.51 million. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. Sell-side analysts anticipate 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.