GAMMA Investing LLC Buys 250 Shares of Loar Holdings Inc. (NYSE:LOAR)

GAMMA Investing LLC raised its stake in shares of Loar Holdings Inc. (NYSE:LOAR) by 204.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 372 shares of the company’s stock after acquiring an additional 250 shares during the quarter. GAMMA Investing LLC’s holdings in Loar were worth $26,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in LOAR. Sterling Capital Management LLC boosted its position in Loar by 141.5% during the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 293 shares in the last quarter. Corebridge Financial Inc. boosted its holdings in shares of Loar by 174.3% in the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock valued at $39,000 after buying an additional 333 shares in the last quarter. State of Wyoming acquired a new stake in Loar in the fourth quarter valued at approximately $53,000. Gen Wealth Partners Inc acquired a new stake in Loar in the fourth quarter valued at approximately $62,000. Finally, MetLife Investment Management LLC boosted its stake in Loar by 179.4% in the fourth quarter. MetLife Investment Management LLC now owns 1,735 shares of the company’s stock valued at $128,000 after acquiring an additional 1,114 shares in the last quarter.

Wall Street Analysts Forecast Growth

LOAR has been the subject of a number of recent analyst reports. Morgan Stanley initiated coverage on Loar in a research report on Friday, May 23rd. They issued an “overweight” rating and a $100.00 price objective for the company. Citigroup raised their price target on Loar from $91.00 to $99.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $92.00 target price on shares of Loar in a research note on Tuesday, April 1st. Finally, Wall Street Zen upgraded shares of Loar from a “hold” rating to a “buy” rating in a research note on Sunday, June 22nd.

Loar Stock Performance

Shares of LOAR opened at $79.64 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.21 and a current ratio of 5.13. Loar Holdings Inc. has a one year low of $52.26 and a one year high of $99.67. The stock has a market cap of $7.45 billion, a P/E ratio of 209.59 and a beta of 0.17. The stock has a 50-day moving average of $85.89 and a two-hundred day moving average of $79.31.

Insider Activity

In related news, insider Michael J. Manella sold 19,684 shares of the business’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $80.91, for a total transaction of $1,592,632.44. Following the completion of the transaction, the insider directly owned 429,960 shares in the company, valued at $34,788,063.60. The trade was a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Dirkson R. Charles sold 88,767 shares of the business’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $80.91, for a total transaction of $7,182,137.97. Following the transaction, the insider owned 4,043,005 shares of the company’s stock, valued at $327,119,534.55. This represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,742,872 shares of company stock valued at $464,655,774. 22.60% of the stock is owned by insiders.

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.