Discovery Capital Management LLC CT Takes $1.34 Million Position in Loar Holdings, LLC (NYSE:LOAR)

Discovery Capital Management LLC CT bought a new stake in Loar Holdings, LLC (NYSE:LOAR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,000 shares of the company’s stock, valued at approximately $1,335,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sei Investments Co. acquired a new position in shares of Loar during the 2nd quarter worth about $1,195,000. Amalgamated Bank purchased a new stake in Loar during the second quarter worth approximately $37,000. Primecap Management Co. CA purchased a new position in Loar in the second quarter valued at approximately $1,036,000. Renaissance Technologies LLC acquired a new stake in Loar during the second quarter worth approximately $1,800,000. Finally, Abrams Capital Management L.P. purchased a new stake in shares of Loar during the 2nd quarter worth approximately $2,052,780,000.

Loar Trading Down 1.5 %

Shares of LOAR opened at $74.46 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.86 and a quick ratio of 3.09. Loar Holdings, LLC has a fifty-two week low of $42.57 and a fifty-two week high of $80.79. The business’s 50-day simple moving average is $67.67.

Loar (NYSE:LOAR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $97.10 million for the quarter, compared to analyst estimates of $91.70 million. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. Equities research analysts predict that Loar Holdings, LLC will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LOAR. Royal Bank of Canada increased their target price on shares of Loar from $65.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Morgan Stanley boosted their target price on Loar from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Citigroup raised their price target on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, Jefferies Financial Group started coverage on shares of Loar in a research report on Monday, June 3rd. They set a “buy” rating and a $65.00 target price on the stock.

Loar Company Profile

Loar Holdings Inc is a diversified manufacturer and supplier of niche aerospace and defense components for aircraft and aerospace and defense systems. Loar Holdings Inc is based in WHITE PLAINS, NY.