Glenn D’alessandro Sells 19,939 Shares of Loar Holdings, LLC (NYSE:LOAR) Stock

Loar Holdings, LLC (NYSE:LOAR) insider Glenn D’alessandro sold 19,939 shares of Loar stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $80.91, for a total value of $1,613,264.49. Following the sale, the insider now owns 908,135 shares of the company’s stock, valued at approximately $73,477,202.85. This trade represents a 2.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Glenn D’alessandro also recently made the following trade(s):

• On Friday, May 16th, Glenn D’alessandro sold 132,436 shares of Loar stock. The shares were sold at an average price of $80.91, for a total value of $10,715,396.76.

Loar Price Performance

Shares of NYSE LOAR traded down $0.41 during trading hours on Monday, reaching $85.18. 1,789,485 shares of the stock traded hands, compared to its average volume of 486,683. The company has a market capitalization of $7.97 billion and a P/E ratio of 224.16. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78. Loar Holdings, LLC has a 52-week low of $49.62 and a 52-week high of $99.67. The company’s 50-day simple moving average is $81.74 and its two-hundred day simple moving average is $79.46.

Loar (NYSE:LOAR) last announced its quarterly earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. The company had revenue of $110.40 million during the quarter, compared to analysts’ expectations of $102.51 million. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. Equities research analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current year.

Hedge Funds Weigh In On Loar

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in Loar by 204.9% in the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock worth $26,000 after purchasing an additional 250 shares during the period. Sterling Capital Management LLC increased its stake in Loar by 141.5% in the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 293 shares during the period. Corebridge Financial Inc. increased its stake in Loar by 174.3% in the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock worth $39,000 after purchasing an additional 333 shares during the period. State of Wyoming purchased a new position in shares of Loar during the fourth quarter valued at approximately $53,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Loar by 5,286.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company’s stock valued at $57,000 after buying an additional 793 shares during the period.

Analyst Ratings Changes

A number of brokerages recently weighed in on LOAR. Morgan Stanley raised Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price objective on the stock in a report on Thursday, April 3rd. Citigroup raised their price objective on Loar from $91.00 to $99.00 and gave the company a “buy” rating in a report on Thursday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $92.00 price objective on shares of Loar in a report on Tuesday, April 1st.

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.