Calamos Advisors LLC Cuts Holdings in Loar Holdings, LLC (NYSE:LOAR)

Calamos Advisors LLC lessened its stake in Loar Holdings, LLC (NYSE:LOAR) by 66.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,521 shares of the company’s stock after selling 16,582 shares during the period. Calamos Advisors LLC’s holdings in Loar were worth $630,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LOAR. nVerses Capital LLC purchased a new stake in Loar in the third quarter worth approximately $45,000. R Squared Ltd bought a new stake in shares of Loar in the 4th quarter worth approximately $95,000. Barclays PLC boosted its stake in shares of Loar by 871.3% in the 3rd quarter. Barclays PLC now owns 2,943 shares of the company’s stock valued at $219,000 after purchasing an additional 2,640 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Loar during the 3rd quarter valued at $230,000. Finally, Holocene Advisors LP purchased a new position in Loar in the 3rd quarter worth $267,000.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $100.00 price target on shares of Loar in a research report on Thursday, November 14th. Morgan Stanley increased their target price on Loar from $75.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, November 18th.

Loar Trading Down 1.2 %

Shares of LOAR opened at $76.30 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. The firm has a fifty day simple moving average of $79.33 and a two-hundred day simple moving average of $76.65. Loar Holdings, LLC has a twelve month low of $42.57 and a twelve month high of $96.99.

Loar (NYSE:LOAR) last posted its earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $103.52 million for the quarter, compared to analysts’ expectations of $97.30 million. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, equities analysts predict that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Loar news, Chairman Brett N. Milgrim sold 120,305 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $81.17, for a total value of $9,765,156.85. Following the completion of the sale, the chairman now directly owns 3,865,327 shares in the company, valued at $313,748,592.59. This trade represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Raja Bobbili sold 987,248 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $81.17, for a total transaction of $80,134,920.16. Following the completion of the sale, the director now owns 36,713,441 shares of the company’s stock, valued at $2,980,030,005.97. This trade represents a 2.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,135,706 shares of company stock worth $92,185,256.

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.