Public Event Detail
Fred Alger Management LLC Acquires 152,136 Shares of Loar Holdings Inc. $LOAR
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Event summary
Fred Alger Management LLC increased its stake in Loar Holdings Inc. by 29.5% in the third quarter, acquiring an additional 152,136 shares to hold a total of 667,893 shares valued at approximately $53.43 million. This comes amid positive sentiment for Loar due to strong earnings and significant insider buying, though the stock trades at a high P/E ratio and has mixed analyst ratings, suggesting potential near-term resistance. Analysts predict an average target price of $92.00, with a consensus rating of "Moderate Buy."