Zweig DiMenna Associates LLC Grows Stake in Loar Holdings Inc. $LOAR

Zweig DiMenna Associates LLC raised its stake in Loar Holdings Inc. (NYSE:LOAR) by 48.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 261,050 shares of the company’s stock after acquiring an additional 85,125 shares during the quarter. Loar makes up 2.1% of Zweig DiMenna Associates LLC’s holdings, making the stock its 11th biggest position. Zweig DiMenna Associates LLC owned approximately 0.28% of Loar worth $22,495,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC increased its position in Loar by 204.9% in the first quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock worth $26,000 after buying an additional 250 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Loar by 5,286.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company’s stock worth $57,000 after acquiring an additional 793 shares during the period. MetLife Investment Management LLC grew its stake in shares of Loar by 16.1% during the 1st quarter. MetLife Investment Management LLC now owns 2,014 shares of the company’s stock worth $142,000 after acquiring an additional 279 shares during the period. Amalgamated Bank grew its stake in shares of Loar by 13.1% during the 1st quarter. Amalgamated Bank now owns 2,261 shares of the company’s stock worth $160,000 after acquiring an additional 261 shares during the period. Finally, Jump Financial LLC purchased a new stake in Loar during the first quarter valued at about $219,000.

Loar Price Performance

Shares of NYSE:LOAR opened at $79.24 on Friday. The company has a 50 day moving average of $78.07 and a 200 day moving average of $80.75. The stock has a market cap of $7.42 billion, a P/E ratio of 172.26 and a beta of 0.21. Loar Holdings Inc. has a 12 month low of $62.10 and a 12 month high of $99.67. The company has a current ratio of 6.15, a quick ratio of 4.01 and a debt-to-equity ratio of 0.25.

Loar (NYSE:LOAR) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.23 EPS for the quarter, beating 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 company had revenue of $123.12 million during the quarter, compared to analysts’ expectations of $122.17 million. During the same quarter in the previous year, the company earned $0.13 earnings per share. Loar’s revenue for the quarter was up 26.8% on a year-over-year basis. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. As a group, sell-side analysts forecast that Loar Holdings Inc. will post 0.28 EPS for the current fiscal year.

Analyst Ratings Changes

LOAR has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Loar in a report on Wednesday, October 8th. Zacks Research upgraded shares of Loar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Finally, Wall Street Zen upgraded shares of Loar from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Loar currently has an average rating of “Buy” and an average price target of $97.00.

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.