PDT Partners LLC Invests $1.64 Million in Loar Holdings, LLC (NYSE:LOAR)

PDT Partners LLC acquired a new stake in shares of Loar Holdings, LLC (NYSE:LOAR) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 21,930 shares of the company’s stock, valued at approximately $1,636,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Abrams Capital Management L.P. acquired a new stake in shares of Loar during the 2nd quarter valued at about $2,052,780,000. Federated Hermes Inc. acquired a new stake in Loar in the second quarter valued at approximately $38,952,000. TimesSquare Capital Management LLC grew its position in Loar by 57.3% in the third quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company’s stock worth $30,620,000 after acquiring an additional 149,460 shares in the last quarter. Loomis Sayles & Co. L P lifted its stake in shares of Loar by 47.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 275,500 shares of the company’s stock valued at $20,550,000 after purchasing an additional 88,429 shares during the last quarter. Finally, Fred Alger Management LLC bought a new stake in Loar in the second quarter worth $13,085,000.

Loar Stock Performance

NYSE LOAR opened at $92.08 on Monday. The stock has a 50-day simple moving average of $81.58 and a 200 day simple moving average of $69.23. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. Loar Holdings, LLC has a twelve month low of $42.57 and a twelve month high of $96.60.

Loar (NYSE:LOAR) last posted its quarterly earnings data on Wednesday, November 13th. The company reported $0.15 earnings per share 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 the consensus estimate of $97.30 million. Loar’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, research analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on LOAR shares. Citigroup boosted their price target on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Morgan Stanley upped their target price on Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price target on shares of Loar in a research report on Thursday, November 14th.

Loar 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.