Loar Holdings, LLC (NYSE:LOAR) Sees Significant Decrease in Short Interest

Loar Holdings, LLC (NYSE:LOAR) saw a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 1,380,000 shares, a decrease of 21.6% from the November 30th total of 1,760,000 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily volume of 448,700 shares, the short-interest ratio is currently 3.1 days.

Analyst Upgrades and Downgrades

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

Loar Price Performance

NYSE:LOAR opened at $74.85 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. Loar has a 12-month low of $42.57 and a 12-month high of $96.99. The stock’s fifty day simple moving average is $84.28 and its 200-day simple moving average is $72.60.

Loar (NYSE:LOAR) last released its earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. The company had revenue of $103.52 million during the quarter, compared to analyst estimates of $97.30 million. Loar’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, equities analysts predict that Loar will post 0.28 EPS for the current fiscal year.

Insider Transactions at Loar

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Arcadia Investment Management Corp MI acquired a new stake in Loar in the second quarter worth $26,000. Amalgamated Bank bought a new stake in shares of Loar in the 2nd quarter valued at $37,000. nVerses Capital LLC bought a new stake in shares of Loar in the 3rd quarter valued at $45,000. Linonia Partnership LP acquired a new stake in Loar during the 2nd quarter worth $53,000. Finally, WINTON GROUP Ltd bought a new position in Loar during the second quarter worth about $205,000.

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.