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 firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $81.17, for a total value of $2,285,179.01. Following the completion of the sale, the insider now directly owns 580,388 shares in the company, valued at approximately $47,110,093.96. The trade was a 4.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Loar Trading Down 2.1 %

LOAR opened at $74.68 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. Loar Holdings, LLC has a 1 year low of $42.57 and a 1 year high of $96.99. The firm has a 50 day moving average price of $84.53 and a 200 day moving average price of $71.89.

Loar (NYSE:LOAR) last released its quarterly earnings data on Wednesday, November 13th. The company reported $0.15 EPS 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 analysts’ expectations of $97.30 million. Loar’s revenue was up 25.0% compared to the same quarter last year. Analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current year.

Institutional Trading of Loar

A number of hedge funds have recently made changes to their positions in LOAR. Arcadia Investment Management Corp MI acquired a new stake in Loar during the 2nd quarter valued at $26,000. Amalgamated Bank purchased a new position in Loar in the 2nd quarter valued at about $37,000. nVerses Capital LLC purchased a new position in Loar in the 3rd quarter valued at about $45,000. Linonia Partnership LP acquired a new stake in shares of Loar during the second quarter valued at about $53,000. Finally, RiverPark Advisors LLC purchased a new stake in shares of Loar during the second quarter worth about $155,000.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LOAR. Morgan Stanley increased their price objective on shares of Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a report 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 report on Thursday, November 14th.

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.