PDT Partners LLC Buys New Stake in Loar Holdings, LLC (NYSE:LOAR)

PDT Partners LLC purchased a new position in shares of Loar Holdings, LLC (NYSE:LOAR) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,930 shares of the company’s stock, valued at approximately $1,636,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Renaissance Capital LLC acquired a new position in Loar in the second quarter valued at about $497,000. TCW Group Inc. bought a new stake in Loar during the 2nd quarter worth about $7,366,000. Zweig DiMenna Associates LLC acquired a new stake in Loar in the 2nd quarter valued at about $9,208,000. Calamos Advisors LLC bought a new position in shares of Loar in the second quarter worth about $492,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Loar during the second quarter worth approximately $439,000.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LOAR shares. Morgan Stanley boosted their price objective 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 reaffirmed an “outperform” rating and set a $100.00 price target on shares of Loar in a research note on Thursday, November 14th. Finally, Citigroup boosted their price objective on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th.

Loar Stock Performance

Shares of NYSE LOAR opened at $92.08 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. Loar Holdings, LLC has a 52-week low of $42.57 and a 52-week high of $96.60. The firm has a 50 day moving average price of $81.58 and a 200 day moving average price of $69.23.

Loar (NYSE:LOAR) last announced its earnings results on Wednesday, November 13th. The company reported $0.15 EPS for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 25.0% on a year-over-year basis. On average, sell-side analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current 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.