Insider Selling: Loar Holdings, LLC (NYSE:LOAR) Insider Sells 28,153 Shares of Stock

Loar Holdings, LLC (NYSE:LOAR) insider Michael J. Manella sold 28,153 shares of the business’s 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 sale, the insider now directly owns 580,388 shares in the company, valued at $47,110,093.96. The trade was a 4.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Loar Stock Up 0.9 %

NYSE:LOAR traded up $0.73 during trading hours on Monday, hitting $79.87. 728,639 shares of the company’s stock traded hands, compared to its average volume of 336,846. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. The business’s fifty day simple moving average is $84.38 and its two-hundred day simple moving average is $71.58. Loar Holdings, LLC has a 52 week low of $42.57 and a 52 week high of $96.99.

Loar (NYSE:LOAR) last issued its quarterly earnings data on Wednesday, November 13th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. The business had revenue of $103.52 million for the quarter, compared to analysts’ expectations 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 Holdings, LLC will post 0.28 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on LOAR. Citigroup boosted their price objective on Loar from $64.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 target price on shares of Loar in a report on Thursday, November 14th. Finally, Morgan Stanley increased their price target 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.

Institutional Trading of Loar

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Zweig DiMenna Associates LLC purchased a new position in Loar in the second quarter worth $9,208,000. Calamos Advisors LLC purchased a new position in shares of Loar in the 2nd quarter worth about $492,000. Bank of New York Mellon Corp bought a new position in shares of Loar during the 2nd quarter valued at about $439,000. RiverPark Advisors LLC purchased a new position in shares of Loar during the 2nd quarter valued at about $155,000. Finally, Summit Securities Group LLC bought a new stake in Loar in the 2nd quarter worth approximately $344,000.

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.