Discovery Capital Management LLC CT Takes $4.44 Million Position in Loar Holdings, LLC (NYSE:LOAR)

Discovery Capital Management LLC CT bought a new stake in shares of Loar Holdings, LLC (NYSE:LOAR) during the fourth quarter, Holdings Channel reports. The fund bought 60,000 shares of the company’s stock, valued at approximately $4,435,000.

A number of other institutional investors have also recently added to or reduced their stakes in LOAR. Vanguard Group Inc. increased its stake in Loar by 132.4% during the 4th quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company’s stock worth $201,133,000 after buying an additional 1,550,581 shares in the last quarter. TimesSquare Capital Management LLC increased its position in shares of Loar by 159.8% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,066,525 shares of the company’s stock worth $78,827,000 after purchasing an additional 656,016 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in Loar by 71.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company’s stock valued at $75,303,000 after purchasing an additional 421,637 shares during the last quarter. Norges Bank acquired a new position in Loar in the 4th quarter valued at $30,326,000. Finally, State Street Corp lifted its holdings in Loar by 413.3% in the 3rd quarter. State Street Corp now owns 416,531 shares of the company’s stock valued at $31,069,000 after purchasing an additional 335,376 shares in the last quarter.

Loar Stock Performance

NYSE:LOAR opened at $70.74 on Tuesday. The stock has a 50 day moving average price of $71.31 and a 200 day moving average price of $77.01. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78. Loar Holdings, LLC has a one year low of $42.57 and a one year high of $96.99.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada dropped their target price on shares of Loar from $100.00 to $92.00 and set an “outperform” rating for the company in a report on Monday, February 24th.

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.