Malaga Cove Capital LLC Buys Shares of 3,459 Loar Holdings Inc. $LOAR

Malaga Cove Capital LLC bought a new position in Loar Holdings Inc. (NYSE:LOAR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,459 shares of the company’s stock, valued at approximately $298,000.

Several other hedge funds also recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of Loar by 204.9% in the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock valued at $26,000 after purchasing an additional 250 shares during the last quarter. Amalgamated Bank raised its holdings in Loar by 13.1% during the first quarter. Amalgamated Bank now owns 2,261 shares of the company’s stock valued at $160,000 after buying an additional 261 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Loar by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 87,621 shares of the company’s stock worth $6,190,000 after buying an additional 4,430 shares during the last quarter. Xponance Inc. boosted its stake in shares of Loar by 19.2% during the 1st quarter. Xponance Inc. now owns 4,585 shares of the company’s stock worth $324,000 after acquiring an additional 740 shares in the last quarter. Finally, Arizona State Retirement System acquired a new position in shares of Loar during the 1st quarter valued at about $378,000.

Loar Stock Performance

Shares of NYSE LOAR opened at $74.51 on Friday. Loar Holdings Inc. has a 12 month low of $62.10 and a 12 month high of $99.67. The company has a market cap of $6.98 billion, a P/E ratio of 161.98 and a beta of 0.19. The business’s 50 day moving average is $78.43 and its two-hundred day moving average is $80.47. The company has a quick ratio of 4.01, a current ratio of 6.15 and a debt-to-equity ratio of 0.25.

Loar (NYSE:LOAR) last announced its quarterly earnings data on Wednesday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.04. Loar had a net margin of 9.82% and a return on equity of 5.50%. The business had revenue of $123.12 million for the quarter, compared to the consensus estimate of $122.17 million. During the same quarter last year, the company posted $0.13 earnings per share. Loar’s quarterly revenue was up 26.8% on a year-over-year basis. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. On average, equities analysts expect that Loar Holdings Inc. will post 0.28 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LOAR shares. Zacks Research upgraded Loar from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 16th. Wall Street Zen raised shares of Loar from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Loar in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $97.00.

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.