Woodline Partners LP Has $6.20 Million Position in Loar Holdings, LLC (NYSE:LOAR)

Woodline Partners LP grew its stake in shares of Loar Holdings, LLC (NYSE:LOAR) by 156.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 83,928 shares of the company’s stock after buying an additional 51,149 shares during the period. Woodline Partners LP owned approximately 0.09% of Loar worth $6,203,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Sterling Capital Management LLC raised its position in Loar by 141.5% in 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 in the last quarter. Corebridge Financial Inc. raised its position in Loar by 174.3% in the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock worth $39,000 after purchasing an additional 333 shares in the last quarter. State of Wyoming acquired a new position in Loar in the fourth quarter worth about $53,000. Arcadia Investment Management Corp MI acquired a new position in Loar in the fourth quarter worth about $61,000. Finally, Gen Wealth Partners Inc acquired a new position in Loar in the fourth quarter worth about $62,000.

Insider Transactions at Loar

In other news, insider Michael J. Manella sold 19,684 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $80.91, for a total transaction of $1,592,632.44. Following the sale, the insider now directly owns 429,960 shares of the company’s stock, valued at $34,788,063.60. This represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul S. Levy sold 1,168,499 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $80.91, for a total transaction of $94,543,254.09. Following the sale, the director now directly owns 8,188,503 shares in the company, valued at $662,531,777.73. This trade represents a 12.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,742,872 shares of company stock valued at $464,655,774.

Loar Stock Performance

NYSE LOAR opened at $85.33 on Friday. The firm has a market cap of $7.98 billion and a price-to-earnings ratio of 224.55. The company has a 50 day moving average of $83.24 and a 200-day moving average of $79.51. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. Loar Holdings, LLC has a 1-year low of $50.02 and a 1-year high of $99.67.

Loar (NYSE:LOAR) last posted its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $110.40 million for the quarter, compared to analyst estimates of $102.51 million. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, equities analysts forecast that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on LOAR shares. Morgan Stanley started coverage on shares of Loar in a research report on Friday. They issued an “overweight” rating and a $100.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $92.00 price target on shares of Loar in a research report on Tuesday, April 1st. Wall Street Zen raised shares of Loar from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Citigroup raised their price objective on shares of Loar from $91.00 to $99.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $89.00.

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.