Seven Grand Managers LLC Buys 25,000 Shares of Loar Holdings, LLC (NYSE:LOAR)

Seven Grand Managers LLC lifted its stake in Loar Holdings, LLC (NYSE:LOAR) by 33.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,000 shares of the company’s stock after purchasing an additional 25,000 shares during the quarter. Loar accounts for approximately 1.7% of Seven Grand Managers LLC’s holdings, making the stock its 19th biggest position. Seven Grand Managers LLC owned approximately 0.11% of Loar worth $7,459,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. TCW Group Inc. purchased a new stake in Loar during the 2nd quarter valued at $7,366,000. Select Equity Group L.P. purchased a new stake in shares of Loar during the second quarter valued at $911,000. Emerald Advisers LLC bought a new stake in Loar in the 2nd quarter worth about $1,146,000. Abrams Capital Management L.P. purchased a new position in Loar in the 2nd quarter worth about $2,052,780,000. Finally, Picton Mahoney Asset Management bought a new position in Loar during the 2nd quarter valued at about $964,000.

Loar Trading Up 3.3 %

Shares of NYSE:LOAR opened at $76.66 on Thursday. The company has a current ratio of 4.86, a quick ratio of 3.09 and a debt-to-equity ratio of 0.33. The business has a 50 day simple moving average of $72.99. Loar Holdings, LLC has a twelve month low of $42.57 and a twelve month high of $80.79.

Loar (NYSE:LOAR) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $97.10 million during the quarter, compared to the consensus estimate of $91.70 million. The company’s revenue was up 31.2% compared to the same quarter last year. As a group, analysts predict that Loar Holdings, LLC will post 0.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LOAR shares. Citigroup lifted their price target on shares of Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Loar in a research report on Monday, October 7th. Finally, Morgan Stanley increased their price target on Loar from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th.

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.