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

Seven Grand Managers LLC increased its position in Loar Holdings, LLC (NYSE:LOAR) by 33.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 100,000 shares of the company’s stock after buying an additional 25,000 shares during the period. Loar comprises approximately 1.7% of Seven Grand Managers LLC’s holdings, making the stock its 19th largest position. Seven Grand Managers LLC’s holdings in Loar were worth $7,459,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Abrams Capital Management L.P. purchased a new position in shares of Loar in the second quarter valued at about $2,052,780,000. Federated Hermes Inc. purchased a new position in Loar in the 2nd quarter worth approximately $38,952,000. Fred Alger Management LLC bought a new position in Loar in the 2nd quarter worth approximately $13,085,000. Zweig DiMenna Associates LLC purchased a new stake in Loar during the 2nd quarter valued at approximately $9,208,000. Finally, TCW Group Inc. bought a new stake in shares of Loar during the second quarter valued at approximately $7,366,000.

Analyst Upgrades and Downgrades

LOAR has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of Loar from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Royal Bank of Canada restated an “outperform” rating and set a $80.00 price objective on shares of Loar in a research report on Monday, October 7th. Finally, Citigroup boosted their target price on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th.

Loar Stock Performance

Shares of LOAR opened at $76.66 on Thursday. Loar Holdings, LLC has a fifty-two week low of $42.57 and a fifty-two week high of $80.79. 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 stock has a fifty day simple moving average of $72.99.

Loar (NYSE:LOAR) last posted its earnings results 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 business had revenue of $97.10 million during the quarter, compared to the consensus estimate of $91.70 million. The business’s revenue was up 31.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Loar Holdings, LLC will post 0.37 earnings per share for the current year.

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.