Assenagon Asset Management S.A. Buys 603,067 Shares of Triumph Group, Inc. (NYSE:TGI)

Assenagon Asset Management S.A. grew its holdings in shares of Triumph Group, Inc. (NYSE:TGI - Free Report) by 140.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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. owned about 1.33% of Triumph Group worth $13,299,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new stake in Triumph Group in the first quarter valued at approximately $35,000. Quest Partners LLC bought a new stake in shares of Triumph Group in the 2nd quarter valued at about $41,000. Lazard Asset Management LLC increased its stake in shares of Triumph Group by 98.3% in the first quarter. Lazard Asset Management LLC now owns 3,877 shares of the aerospace company's stock valued at $58,000 after buying an additional 1,922 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Triumph Group during the first quarter worth about $56,000. Finally, CWM LLC lifted its stake in shares of Triumph Group by 473.7% in the second quarter. CWM LLC now owns 5,146 shares of the aerospace company's stock worth $79,000 after acquiring an additional 4,249 shares during the period. Institutional investors own 94.53% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on TGI shares. Truist Financial cut their price target on shares of Triumph Group from $15.00 to $12.00 and set a "hold" rating on the stock in a research report on Friday, October 18th. Jefferies Financial Group restated a "hold" rating and set a $14.00 target price (down previously from $20.00) on shares of Triumph Group in a research report on Monday, August 12th. The Goldman Sachs Group downgraded Triumph Group from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $19.00 to $15.00 in a report on Tuesday, August 13th. Bank of America downgraded shares of Triumph Group from a "buy" rating to an "underperform" rating and dropped their target price for the company from $17.00 to $12.00 in a research report on Tuesday, September 24th. Finally, Barclays reduced their price target on shares of Triumph Group from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Triumph Group has a consensus rating of "Hold" and an average price target of $14.78.

Triumph Group Trading Up 2.2 %

Shares of TGI traded up $0.32 during midday trading on Monday, reaching $14.91. The stock had a trading volume of 479,022 shares, compared to its average volume of 878,928. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 2.25 and a beta of 2.49. Triumph Group, Inc. has a 12-month low of $7.23 and a 12-month high of $17.87. The company's 50-day moving average is $13.61 and its 200 day moving average is $14.33.

Triumph Group (NYSE:TGI - Get Free Report) last issued its earnings results on Wednesday, August 7th. The aerospace company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). Triumph Group had a negative return on equity of 1.77% and a net margin of 40.39%. The business had revenue of $281.00 million during the quarter, compared to analysts' expectations of $274.64 million. During the same quarter in the previous year, the business earned ($0.10) EPS. Triumph Group's revenue for the quarter was up 6.5% compared to the same quarter last year. Research analysts forecast that Triumph Group, Inc. will post 0.44 EPS for the current fiscal year.

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.