Ovata Capital Management Ltd Invests $3.70 Million in Loar Holdings, LLC (NYSE:LOAR)

Ovata Capital Management Ltd purchased a new stake in shares of Loar Holdings, LLC (NYSE:LOAR) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 50,000 shares of the company’s stock, valued at approximately $3,696,000. Loar makes up approximately 1.4% of Ovata Capital Management Ltd’s portfolio, making the stock its 18th biggest position.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Corebridge Financial Inc. increased its position in shares of Loar by 174.3% during the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock valued at $39,000 after buying an additional 333 shares during the period. Arcadia Investment Management Corp MI bought a new stake in Loar during the 4th quarter worth approximately $61,000. Captrust Financial Advisors lifted its stake in Loar by 9.8% in the 3rd quarter. Captrust Financial Advisors now owns 10,471 shares of the company’s stock worth $781,000 after purchasing an additional 938 shares in the last quarter. Picton Mahoney Asset Management boosted its holdings in Loar by 5.6% in the 4th quarter. Picton Mahoney Asset Management now owns 19,300 shares of the company’s stock valued at $1,426,000 after purchasing an additional 1,030 shares during the period. Finally, R Squared Ltd bought a new position in shares of Loar in the fourth quarter worth $95,000.

Analysts Set New Price Targets

LOAR has been the subject of several research analyst reports. Morgan Stanley raised Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price objective for the company in a research note on Thursday. Royal Bank of Canada reissued an “outperform” rating and set a $92.00 price objective on shares of Loar in a report on Tuesday.

Loar Trading Down 8.7 %

NYSE LOAR opened at $69.19 on Friday. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78. The stock’s 50-day simple moving average is $70.68 and its two-hundred day simple moving average is $76.90. Loar Holdings, LLC has a twelve month low of $42.57 and a twelve month high of $96.99. The company has a market capitalization of $6.47 billion and a price-to-earnings ratio of 288.30.

Loar (NYSE:LOAR) last announced its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. The firm had revenue of $110.40 million for the quarter, compared to analysts’ expectations of $102.51 million. Loar’s revenue for the quarter was up 27.8% on a year-over-year basis. Research analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

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.