Insider Selling: Loar Holdings, LLC (NYSE:LOAR) Director Sells $80,134,920.16 in Stock

Loar Holdings, LLC (NYSE:LOAR) Director Raja Bobbili sold 987,248 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $81.17, for a total value of $80,134,920.16. Following the transaction, the director now directly owns 36,713,441 shares in the company, valued at approximately $2,980,030,005.97. The trade was a 2.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Loar Stock Down 2.1 %

Loar stock opened at $74.68 on Thursday. 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. The stock has a 50-day moving average of $84.53 and a two-hundred day moving average of $71.89.

Loar (NYSE:LOAR) last announced its quarterly earnings data on Wednesday, November 13th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. The firm had revenue of $103.52 million during the quarter, compared to analysts’ expectations of $97.30 million. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. Equities research analysts forecast that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on LOAR shares. Morgan Stanley boosted 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price target on shares of Loar in a research note on Thursday, November 14th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Select Equity Group L.P. purchased a new position in Loar during the second quarter valued at approximately $911,000. Emerald Advisers LLC purchased a new position in Loar during the second quarter valued at approximately $1,146,000. Lisanti Capital Growth LLC purchased a new position in Loar during the third quarter valued at approximately $2,667,000. The Manufacturers Life Insurance Company purchased a new position in Loar during the third quarter valued at approximately $1,247,000. Finally, Abrams Capital Management L.P. purchased a new position in Loar during the second quarter valued at approximately $2,052,780,000.

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.