Short Interest in Triumph Group, Inc. (NYSE:TGI) Expands By 23.3%

Triumph Group, Inc. (NYSE:TGI) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 6,770,000 shares, a growth of 23.3% from the March 31st total of 5,490,000 shares. Based on an average trading volume of 2,220,000 shares, the short-interest ratio is currently 3.0 days. Approximately 9.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

TGI has been the subject of several research analyst reports. Baird R W lowered Triumph Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Robert W. Baird reissued a “neutral” rating and set a $26.00 price objective (up previously from $20.00) on shares of Triumph Group in a report on Tuesday, February 4th. Truist Financial raised their target price on shares of Triumph Group from $19.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, February 4th. Barclays cut shares of Triumph Group from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $21.00 to $26.00 in a research note on Thursday, February 6th. Finally, StockNews.com assumed coverage on shares of Triumph Group in a research report on Sunday. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating and ten have given a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.63.

Insider Transactions at Triumph Group

In other Triumph Group news, CAO Jennifer H. Allen sold 35,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $25.32, for a total value of $886,200.00. Following the sale, the chief accounting officer now directly owns 51,696 shares in the company, valued at $1,308,942.72. This represents a 40.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.31% of the company’s stock.

Hedge Funds Weigh In On Triumph Group

Several institutional investors and hedge funds have recently bought and sold shares of TGI. American Century Companies Inc. purchased a new stake in shares of Triumph Group during the fourth quarter valued at approximately $30,845,000. Assenagon Asset Management S.A. raised its holdings in Triumph Group by 124.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,318,285 shares of the aerospace company’s stock valued at $43,259,000 after buying an additional 1,286,568 shares during the last quarter. Norges Bank purchased a new stake in Triumph Group during the 4th quarter valued at $15,945,000. First Trust Advisors LP boosted its position in Triumph Group by 59.6% during the 4th quarter. First Trust Advisors LP now owns 1,702,245 shares of the aerospace company’s stock valued at $31,764,000 after buying an additional 635,568 shares during the period. Finally, Irenic Capital Management LP grew its holdings in Triumph Group by 19.9% in the 4th quarter. Irenic Capital Management LP now owns 3,787,022 shares of the aerospace company’s stock worth $70,666,000 after acquiring an additional 628,296 shares during the last quarter. 94.53% of the stock is currently owned by institutional investors.

Triumph Group Stock Performance

Shares of TGI opened at $25.49 on Friday. Triumph Group has a fifty-two week low of $11.01 and a fifty-two week high of $25.58. The firm has a 50 day moving average price of $25.20 and a 200-day moving average price of $21.26. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 3.54 and a beta of 2.13.

Triumph Group (NYSE:TGI) last posted its quarterly earnings results on Monday, February 10th. The aerospace company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. Triumph Group had a net margin of 45.08% and a negative return on equity of 55.18%. As a group, equities research analysts predict that Triumph Group will post 0.68 earnings per share for the current year.

About Triumph Group

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.