Assenagon Asset Management S.A. Has $2.44 Million Position in Thermon Group Holdings, Inc. (NYSE:THR)

Assenagon Asset Management S.A. cut its stake in Thermon Group Holdings, Inc. (NYSE:THR - Free Report) by 71.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,451 shares of the technology company's stock after selling 189,729 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.22% of Thermon Group worth $2,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. AJOVista LLC acquired a new position in Thermon Group in the 4th quarter worth about $85,000. Quest Partners LLC bought a new position in Thermon Group during the fourth quarter valued at approximately $167,000. QRG Capital Management Inc. bought a new position in Thermon Group during the fourth quarter valued at approximately $238,000. Allspring Global Investments Holdings LLC lifted its stake in Thermon Group by 144.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,868 shares of the technology company's stock valued at $257,000 after acquiring an additional 4,654 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in Thermon Group in the fourth quarter worth approximately $276,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Thermon Group Stock Performance

NYSE:THR traded up $0.48 during midday trading on Tuesday, reaching $35.31. The stock had a trading volume of 111,579 shares, compared to its average volume of 244,491. The stock has a market capitalization of $1.19 billion, a P/E ratio of 24.52 and a beta of 1.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.22 and a quick ratio of 1.53. Thermon Group Holdings, Inc. has a 1-year low of $21.20 and a 1-year high of $35.42. The firm's fifty day simple moving average is $32.08 and its 200-day simple moving average is $30.85.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on THR shares. Roth Mkm initiated coverage on shares of Thermon Group in a report on Wednesday, March 6th. They issued a "buy" rating and a $36.00 price objective for the company. StockNews.com upgraded Thermon Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 4th. Finally, CJS Securities began coverage on Thermon Group in a research note on Monday, April 29th. They issued an "outperform" rating and a $42.00 price objective on the stock.

About Thermon Group

Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries in the United States and Latin America, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It provides heat tracing products, such as electric heat tracing cables, steam heating solutions, controls, monitoring and software, instrumentation, project services, industrial heating and filtration solutions, temporary electrical power distribution and lighting, and other products and services.

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