Oxford Asset Management LLP Invests $418,000 in Loar Holdings, LLC (NYSE:LOAR)

Oxford Asset Management LLP acquired a new stake in Loar Holdings, LLC (NYSE:LOAR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,657 shares of the company’s stock, valued at approximately $418,000.

Several other hedge funds have also recently bought and sold shares of LOAR. Sterling Capital Management LLC increased its stake in Loar by 141.5% during the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 293 shares during the period. Corebridge Financial Inc. grew its holdings in shares of 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 purchasing an additional 333 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Loar during the 4th quarter worth approximately $61,000. R Squared Ltd acquired a new stake in Loar during the 4th quarter worth approximately $95,000. Finally, MetLife Investment Management LLC lifted its holdings in Loar by 179.4% during the 4th quarter. MetLife Investment Management LLC now owns 1,735 shares of the company’s stock worth $128,000 after buying an additional 1,114 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Morgan Stanley raised Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price objective on the stock in a research report on Thursday, April 3rd. Royal Bank of Canada restated an “outperform” rating and set a $92.00 price target on shares of Loar in a report on Tuesday, April 1st.

Loar Stock Performance

Shares of LOAR stock opened at $97.18 on Friday. Loar Holdings, LLC has a 12 month low of $45.10 and a 12 month high of $98.60. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. The company has a market cap of $9.09 billion and a P/E ratio of 404.92. The firm has a fifty day moving average price of $73.81 and a 200 day moving average price of $78.14.

Loar (NYSE:LOAR) last released its quarterly earnings data on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. The business had revenue of $110.40 million during the quarter, compared to analysts’ expectations of $102.51 million. The company’s quarterly revenue was up 27.8% on a year-over-year basis. Sell-side analysts predict that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

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.