Assenagon Asset Management S.A. Grows Position in Triumph Group, Inc. (NYSE:TGI)

Assenagon Asset Management S.A. raised its position in shares of Triumph Group, Inc. (NYSE:TGI) by 140.7% during the 3rd quarter, Holdings Channel reports. The fund owned 1,031,717 shares of the aerospace company’s stock after purchasing an additional 603,067 shares during the period. Assenagon Asset Management S.A.’s holdings in Triumph Group were worth $13,299,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gamco Investors INC. ET AL purchased a new stake in Triumph Group during the first quarter valued at $1,545,000. SG Americas Securities LLC raised its position in shares of Triumph Group by 199.0% during the 3rd quarter. SG Americas Securities LLC now owns 67,719 shares of the aerospace company’s stock valued at $873,000 after buying an additional 45,074 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Triumph Group by 7.2% during the 1st quarter. ProShare Advisors LLC now owns 13,263 shares of the aerospace company’s stock valued at $199,000 after buying an additional 892 shares in the last quarter. Kennedy Capital Management LLC grew its position in Triumph Group by 199.6% in the first quarter. Kennedy Capital Management LLC now owns 450,918 shares of the aerospace company’s stock worth $6,782,000 after acquiring an additional 300,407 shares in the last quarter. Finally, Jade Capital Advisors LLC increased its stake in Triumph Group by 148.7% during the third quarter. Jade Capital Advisors LLC now owns 161,662 shares of the aerospace company’s stock worth $2,084,000 after acquiring an additional 96,662 shares during the last quarter. 94.53% of the stock is currently owned by institutional investors.

Triumph Group Price Performance

Triumph Group stock opened at $14.59 on Monday. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 2.20 and a beta of 2.49. The firm has a 50-day moving average of $13.58 and a two-hundred day moving average of $14.32. Triumph Group, Inc. has a 1 year low of $7.19 and a 1 year high of $17.87.

Triumph Group (NYSE:TGI) last announced its quarterly earnings data on Wednesday, August 7th. The aerospace company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $281.00 million during the quarter, compared to the consensus estimate of $274.64 million. Triumph Group had a negative return on equity of 1.77% and a net margin of 40.39%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the company earned ($0.10) EPS. Research analysts expect that Triumph Group, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TGI shares. The Goldman Sachs Group cut Triumph Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $15.00 in a report on Tuesday, August 13th. Bank of America lowered shares of Triumph Group from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $17.00 to $12.00 in a research note on Tuesday, September 24th. Truist Financial reduced their target price on shares of Triumph Group from $15.00 to $12.00 and set a “hold” rating on the stock in a research note on Friday, October 18th. Barclays dropped their price target on shares of Triumph Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. lowered shares of Triumph Group from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $15.00 to $12.00 in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Triumph Group currently has a consensus rating of “Hold” and a consensus price target of $14.78.

Triumph Group Company Profile

Triumph Group, Inc designs, engineers, manufactures, repairs, overhauls, and distributes aircraft, aircraft components, accessories, subassemblies, and systems worldwide. It operates in two segments, Triumph Systems & Support, and Triumph Interiors. The company offers aircraft and engine-mounted accessory drives, thermal control systems and components, cargo hooks, high lift actuations, cockpit control levers, hydraulic systems and components, control system valve bodies, landing gear actuation systems, electronic engine controls, landing gear components and assemblies, cyber protected process controllers, main engine gearbox assemblies, geared transmissions and drive train components, main fuel pumps, fuel-metering units, primary and secondary flight control systems, and vibration absorbers.