Insider Selling: Loar Holdings, LLC (NYSE:LOAR) Chairman Sells 120,305 Shares of Stock

Loar Holdings, LLC (NYSE:LOAR) Chairman Brett N. Milgrim sold 120,305 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $81.17, for a total transaction of $9,765,156.85. Following the completion of the sale, the chairman now directly owns 3,865,327 shares of the company’s stock, valued at $313,748,592.59. The trade was a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Loar Stock Performance

Shares of NYSE:LOAR opened at $76.46 on Wednesday. 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 company has a 50-day moving average price of $84.50 and a 200 day moving average price of $71.75. Loar Holdings, LLC has a 52 week low of $42.57 and a 52 week high of $96.99.

Loar (NYSE:LOAR) last posted its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. The business had revenue of $103.52 million during the quarter, compared to analyst estimates of $97.30 million. Loar’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, research analysts predict that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LOAR has been the topic of several recent research reports. Citigroup boosted their price target on Loar from $64.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Royal Bank of Canada restated an “outperform” rating and set a $100.00 price target on shares of Loar in a research note on Thursday, November 14th. Finally, Morgan Stanley lifted their price objective on shares of Loar from $75.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th.

Hedge Funds Weigh In On Loar

Institutional investors and hedge funds have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI acquired a new stake in shares of Loar in the second quarter valued at about $26,000. Amalgamated Bank purchased a new position in Loar in the second quarter valued at about $37,000. nVerses Capital LLC purchased a new position in Loar in the third quarter valued at about $45,000. Linonia Partnership LP acquired a new stake in shares of Loar during the 2nd quarter valued at approximately $53,000. Finally, RiverPark Advisors LLC purchased a new stake in shares of Loar during the 2nd quarter worth approximately $155,000.

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.