Linonia Partnership LP Purchases New Position in Loar Holdings, LLC (NYSE:LOAR)

Linonia Partnership LP acquired a new stake in Loar Holdings, LLC (NYSE:LOAR) in the second quarter, according to its most recent filing with the SEC. The fund acquired 1,000 shares of the company’s stock, valued at approximately $53,000. Loar makes up 0.0% of Linonia Partnership LP’s holdings, making the stock its 11th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of LOAR. Arcadia Investment Management Corp MI purchased a new position in shares of Loar in the second quarter valued at $26,000. Amalgamated Bank bought a new position in Loar in the 2nd quarter worth about $37,000. RiverPark Advisors LLC purchased a new position in Loar during the 2nd quarter valued at about $155,000. WINTON GROUP Ltd bought a new stake in shares of Loar during the second quarter valued at about $205,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Loar in the second quarter worth about $344,000.

Loar Stock Performance

NYSE LOAR opened at $74.09 on Friday. 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 company’s 50-day moving average price is $68.98. Loar Holdings, LLC has a twelve month low of $42.57 and a twelve month high of $80.79.

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

Analyst Ratings Changes

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

Loar 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.