WINTON GROUP Ltd Purchases New Stake in Loar Holdings, LLC (NYSE:LOAR)

WINTON GROUP Ltd acquired a new stake in shares of Loar Holdings, LLC (NYSE:LOAR) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 3,838 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new position in Loar during the 2nd quarter valued at $26,000. RiverPark Advisors LLC purchased a new position in Loar during the 2nd quarter valued at $155,000. Summit Securities Group LLC purchased a new position in Loar during the 2nd quarter valued at $344,000. Bank of New York Mellon Corp purchased a new position in Loar during the 2nd quarter valued at $439,000. Finally, Victory Capital Management Inc. purchased a new position in Loar during the 2nd quarter valued at $470,000.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of Loar from $65.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Jefferies Financial Group initiated coverage on shares of Loar in a research report on Monday, June 3rd. They issued a “buy” rating and a $65.00 target price on the stock. Morgan Stanley upped 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. Finally, Citigroup upped their target price on shares of Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th.

Loar Price Performance

Shares of LOAR stock opened at $73.65 on Thursday. Loar Holdings, LLC has a one year low of $42.57 and a one year high of $80.79. The company’s 50-day moving average price is $66.88. The company has a current ratio of 4.86, a quick ratio of 3.09 and a debt-to-equity ratio of 0.33.

Loar (NYSE:LOAR) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The firm had revenue of $97.10 million for the quarter, compared to analysts’ expectations of $91.70 million. Loar’s revenue for the quarter was up 31.2% on a year-over-year basis. Analysts predict that Loar Holdings, LLC will post 0.44 earnings per share for the current year.

About Loar

Loar Holdings Inc is a diversified manufacturer and supplier of niche aerospace and defense components for aircraft and aerospace and defense systems. Loar Holdings Inc is based in WHITE PLAINS, NY.