Short Interest in Loar Holdings, LLC (NYSE:LOAR) Rises By 39.5%

Loar Holdings, LLC (NYSE:LOAR) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 2,330,000 shares, an increase of 39.5% from the February 28th total of 1,670,000 shares. Currently, 3.2% of the shares of the company are sold short. Based on an average daily volume of 455,800 shares, the short-interest ratio is presently 5.1 days.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $92.00 target price on shares of Loar in a report on Tuesday.

Loar Price Performance

NYSE LOAR traded up $0.54 during trading hours on Tuesday, reaching $71.19. The company’s stock had a trading volume of 778,685 shares, compared to its average volume of 409,410. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. Loar has a 1-year low of $42.57 and a 1-year high of $96.99. The company’s 50-day moving average is $71.31 and its two-hundred day moving average is $77.01.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. State Street Corp increased its holdings in Loar by 413.3% in the 3rd quarter. State Street Corp now owns 416,531 shares of the company’s stock worth $31,069,000 after acquiring an additional 335,376 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Loar during the third quarter worth about $1,247,000. New York State Common Retirement Fund raised its position in shares of Loar by 14.1% during the 4th quarter. New York State Common Retirement Fund now owns 101,802 shares of the company’s stock worth $7,524,000 after purchasing an additional 12,592 shares during the last quarter. M&T Bank Corp purchased a new position in Loar in the 4th quarter valued at about $306,000. Finally, BNP Paribas Financial Markets boosted its holdings in Loar by 3,444.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,633 shares of the company’s stock worth $793,000 after buying an additional 10,333 shares during the last quarter.

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.