Post-transaction, Raja still holds 36,713,441 shares indirectly through various entities, including Abrams Capital Partners (WA:CPAP) II, L.P., Riva Capital Partners IV, L.P., and others. The shares sold were part of holdings managed by entities such as Abrams Capital Partners II and Riva Capital Partners IV, among others, as detailed in the filing's footnotes. The company maintains strong liquidity with a current ratio of 3.95 and operates with moderate debt levels. For deeper insights into LOAR's financial health and 16 additional ProTips, visit InvestingPro. The transaction reflects Raja's ongoing involvement with the company while adjusting his investment position.
Post-transaction, Raja still holds 36,713,441 shares indirectly through various entities, including Abrams Capital Partners II, L.P., Riva Capital Partners IV, L.P., and others. The shares sold were part of holdings managed by entities such as Abrams Capital Partners II and Riva Capital Partners IV, among others, as detailed in the filing's footnotes. The company maintains strong liquidity with a current ratio of 3.95 and operates with moderate debt levels. For deeper insights into LOAR's financial health and 16 additional ProTips, visit InvestingPro. The transaction reflects Raja's ongoing involvement with the company while adjusting his investment position.
In other recent news, Loar Holdings Inc. reported robust earnings and revenue results, with a 17% rise in organic growth, adjusted EBITDA of $35 million, and total sales reaching $97 million. Following this, the company initiated a public offering of 4.75 million shares of common stock, aiming to use the proceeds for debt repayment and general corporate expenses. Loar Holdings also completed the strategic acquisition of Applied Avionics for $385 million, expected to increase annual revenues by approximately $40 million and adjusted EBITDA by about $20 million.
Analyst firms such as Jefferies, Citi, and Morgan Stanley (NYSE:MS) have initiated coverage on Loar Holdings, expressing belief in the company's potential for significant free cash flow in the coming years and its focus on proprietary products. RBC Capital Markets has adjusted its outlook on Loar Holdings, increasing the price target to $100 from the previous $80, while retaining an Outperform rating on the stock.
These recent developments highlight the strides made by Loar Holdings in its financial strategy and growth trajectory. It is important to note that these projections are based on analyst expectations, and actual results may vary.
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