Loar Holdings, LLC (NYSE:LOAR) Insider Sells $2,285,179.01 in Stock

Loar Holdings, LLC (NYSE:LOAR) insider Michael J. Manella sold 28,153 shares of the 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 transaction, the insider now owns 580,388 shares in the company, valued at $47,110,093.96. This trade represents a 4.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Loar Trading Down 2.1 %

Shares of NYSE:LOAR opened at $74.68 on Thursday. 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 firm has a 50-day simple moving average of $84.53 and a 200 day simple moving average of $71.89. Loar Holdings, LLC has a fifty-two week low of $42.57 and a fifty-two week high of $96.99.

Loar (NYSE:LOAR) last posted its earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share (EPS) for the quarter, beating 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 for the quarter was up 25.0% on a year-over-year basis. On average, sell-side analysts predict that Loar Holdings, LLC will post 0.28 EPS for the current year.

Hedge Funds Weigh In On Loar

A number of institutional investors have recently bought and sold shares of LOAR. Select Equity Group L.P. purchased a new position in shares of Loar during the 2nd quarter valued at $911,000. Emerald Advisers LLC bought a new stake in shares of Loar in the 2nd quarter worth about $1,146,000. Lisanti Capital Growth LLC bought a new position in Loar in the 3rd quarter valued at $2,667,000. The Manufacturers Life Insurance Company bought a new position in Loar in the third quarter valued at about $1,247,000. Finally, Abrams Capital Management L.P. acquired a new stake in shares of Loar during the 2nd quarter worth approximately $2,052,780,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 price target on shares of Loar in a research report on Thursday, November 14th. Morgan Stanley increased their target price on Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th.

Loar Company Profile

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.