Alpine Associates Management Inc. Invests $17.28 Million in Triumph Group, Inc. (NYSE:TGI)

Alpine Associates Management Inc. acquired a new position in Triumph Group, Inc. (NYSE:TGI) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 682,000 shares of the aerospace company’s stock, valued at approximately $17,282,000. Alpine Associates Management Inc. owned about 0.88% of Triumph Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Sterling Capital Management LLC increased its position in Triumph Group by 804.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,351 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 2,091 shares during the period. KBC Group NV bought a new position in Triumph Group during the first quarter worth $79,000. Point72 Asia Singapore Pte. Ltd. increased its position in Triumph Group by 58.1% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,761 shares of the aerospace company’s stock worth $126,000 after acquiring an additional 2,484 shares during the period. Optimist Retirement Group LLC bought a new position in Triumph Group during the first quarter worth $284,000. Finally, Brevan Howard Capital Management LP increased its position in Triumph Group by 17.1% during the fourth quarter. Brevan Howard Capital Management LP now owns 12,306 shares of the aerospace company’s stock worth $230,000 after acquiring an additional 1,798 shares during the period. 94.53% of the stock is currently owned by institutional investors and hedge funds.

Triumph Group Stock Performance

TGI opened at $26.01 on Thursday. The firm’s 50-day simple moving average is $25.83 and its 200-day simple moving average is $24.81. Triumph Group, Inc. has a twelve month low of $11.01 and a twelve month high of $26.03. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 50.01 and a beta of 2.26.

Triumph Group (NYSE:TGI) last posted its earnings results on Wednesday, May 28th. The aerospace company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.17. Triumph Group had a net margin of 3.24% and a negative return on equity of 74.53%. The business had revenue of $377.90 million for the quarter, compared to analyst estimates of $334.04 million. During the same quarter in the prior year, the firm earned $0.31 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Triumph Group, Inc. will post 0.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TGI shares. JPMorgan Chase & Co. raised shares of Triumph Group from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $17.00 to $26.00 in a research report on Tuesday, April 15th. Wall Street Zen assumed coverage on shares of Triumph Group in a report on Tuesday, May 20th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.63.

Triumph Group 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.