Loar Holdings, LLC (NYSE:LOAR) Short Interest Update

Loar Holdings, LLC (NYSE:LOAR) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,330,000 shares, an increase of 39.5% from the February 28th total of 1,670,000 shares. Currently, 3.2% of the shares of the stock are sold short. Based on an average trading volume of 455,800 shares, the short-interest ratio is currently 5.1 days.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lowered their target price on Loar from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Monday, February 24th.

Institutional Investors Weigh In On Loar

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Loar by 132.4% during the 4th quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company’s stock worth $201,133,000 after acquiring an additional 1,550,581 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Loar by 4.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,142,073 shares of the company’s stock worth $84,411,000 after purchasing an additional 50,287 shares in the last quarter. TimesSquare Capital Management LLC boosted its stake in shares of Loar by 159.8% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,066,525 shares of the company’s stock valued at $78,827,000 after purchasing an additional 656,016 shares during the period. Lord Abbett & CO. LLC grew its holdings in shares of Loar by 71.7% in the third quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company’s stock valued at $75,303,000 after purchasing an additional 421,637 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in Loar by 29.7% during the 4th quarter. Federated Hermes Inc. now owns 998,733 shares of the company’s stock worth $73,816,000 after buying an additional 228,477 shares during the period.

Loar Stock Up 7.2 %

Loar stock traded up $4.77 during trading on Monday, hitting $70.74. The company had a trading volume of 868,219 shares, compared to its average volume of 407,825. 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 company’s 50 day simple moving average is $71.48 and its 200-day simple moving average is $77.06. Loar has a 1-year low of $42.57 and a 1-year high of $96.99.

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.