Short Interest in Loar Holdings, LLC (NYSE:LOAR) Increases By 39.5%

Loar Holdings, LLC (NYSE:LOAR) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 2,330,000 shares, a growth of 39.5% from the February 28th total of 1,670,000 shares. Currently, 3.2% of the shares of the stock are short sold. Based on an average daily volume of 455,800 shares, the short-interest ratio is currently 5.1 days.

Loar Stock Performance

Shares of LOAR stock traded up $0.54 during trading hours on Tuesday, reaching $71.19. The company had a trading volume of 778,685 shares, compared to its average volume of 409,410. Loar has a 12-month low of $42.57 and a 12-month high of $96.99. 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 stock has a fifty day moving average of $71.31 and a 200-day moving average of $77.01.

Institutional Investors Weigh In On Loar

A number of hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC lifted its holdings in Loar by 141.5% in the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock valued at $37,000 after acquiring an additional 293 shares during the last quarter. Corebridge Financial Inc. lifted its position in Loar by 174.3% in the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock valued at $39,000 after buying an additional 333 shares during the last quarter. Barclays PLC boosted its stake in Loar by 12.1% during the fourth quarter. Barclays PLC now owns 3,298 shares of the company’s stock worth $243,000 after buying an additional 355 shares during the period. Captrust Financial Advisors increased its position in shares of Loar by 4.4% during the fourth quarter. Captrust Financial Advisors now owns 10,935 shares of the company’s stock valued at $808,000 after acquiring an additional 464 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of Loar during the fourth quarter valued at about $53,000.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $92.00 target price on shares of Loar in a report on Tuesday.

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.