Driehaus Capital Management LLC Buys Shares of 45,610 Loar Holdings, LLC (NYSE:LOAR)

Driehaus Capital Management LLC purchased a new position in Loar Holdings, LLC (NYSE:LOAR) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 45,610 shares of the company’s stock, valued at approximately $2,436,000. Driehaus Capital Management LLC owned about 0.05% of Loar as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arcadia Investment Management Corp MI acquired a new position in Loar in the 2nd quarter valued at about $26,000. Amalgamated Bank acquired a new position in shares of Loar in the second quarter valued at approximately $37,000. Linonia Partnership LP acquired a new position in shares of Loar in the second quarter valued at approximately $53,000. RiverPark Advisors LLC purchased a new position in shares of Loar during the second quarter valued at approximately $155,000. Finally, WINTON GROUP Ltd purchased a new stake in Loar in the 2nd quarter worth approximately $205,000.

Loar Price Performance

LOAR stock opened at $74.28 on Monday. The firm’s 50-day moving average price is $69.35. The company has a quick ratio of 3.09, a current ratio of 4.86 and a debt-to-equity ratio of 0.33. Loar Holdings, LLC has a 12-month low of $42.57 and a 12-month high of $80.79.

Loar (NYSE:LOAR) last posted its earnings results on Tuesday, August 13th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $97.10 million for the quarter, compared to analyst estimates of $91.70 million. Loar’s revenue was up 31.2% on a year-over-year basis. As a group, sell-side analysts forecast that Loar Holdings, LLC will post 0.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Citigroup raised their price objective on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Royal Bank of Canada raised their price target on Loar from $65.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Jefferies Financial Group began coverage on shares of Loar in a research note on Monday, June 3rd. They set a “buy” rating and a $65.00 price objective for the company. Finally, Morgan Stanley raised their target price on shares of Loar from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th.

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.