Loar Holdings, LLC (NYSE:LOAR) Short Interest Down 21.6% in December

Loar Holdings, LLC (NYSE:LOAR) saw a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 1,380,000 shares, a drop of 21.6% from the November 30th total of 1,760,000 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average daily volume of 448,700 shares, the short-interest ratio is presently 3.1 days.

Insider Buying and Selling at Loar

In other news, insider Michael J. Manella sold 28,153 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $81.17, for a total value of $2,285,179.01. Following the sale, the insider now directly owns 580,388 shares of the company’s stock, valued at approximately $47,110,093.96. This trade represents a 4.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Brett N. Milgrim sold 120,305 shares of Loar stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $81.17, for a total value of $9,765,156.85. Following the completion of the transaction, the chairman now owns 3,865,327 shares in the company, valued at $313,748,592.59. The trade was a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,135,706 shares of company stock worth $92,185,256 over the last 90 days.

Institutional Trading of Loar

A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new stake in shares of Loar in the 2nd quarter valued at $439,000. Picton Mahoney Asset Management bought a new stake in Loar during the second quarter worth about $964,000. Rhumbline Advisers acquired a new stake in shares of Loar during the second quarter worth approximately $523,000. Roubaix Capital LLC acquired a new stake in shares of Loar during the second quarter worth approximately $3,537,000. Finally, TD Asset Management Inc bought a new position in shares of Loar in the second quarter valued at approximately $545,000.

Loar Stock Performance

Shares of LOAR stock opened at $74.85 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. The firm has a fifty day moving average of $84.28 and a 200-day moving average of $72.60. Loar has a 52-week low of $42.57 and a 52-week high of $96.99.

Loar (NYSE:LOAR) last released its quarterly earnings data on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $103.52 million for the quarter, compared to analyst estimates of $97.30 million. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, equities research analysts forecast that Loar will post 0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on LOAR shares. Morgan Stanley boosted their target price on shares of Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Royal Bank of Canada restated an “outperform” rating and issued a $100.00 price target on shares of Loar in a research report on Thursday, November 14th.

About Loar

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.