Irenic Capital Management LP Buys 628,296 Shares of Triumph Group, Inc. (NYSE:TGI)

Irenic Capital Management LP grew its stake in shares of Triumph Group, Inc. (NYSE:TGI - Free Report) by 19.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 3,787,022 shares of the aerospace company's stock after acquiring an additional 628,296 shares during the quarter. Triumph Group comprises about 7.6% of Irenic Capital Management LP's portfolio, making the stock its 3rd biggest holding. Irenic Capital Management LP owned approximately 4.90% of Triumph Group worth $70,666,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Sterling Capital Management LLC raised 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 valued at $44,000 after purchasing an additional 2,091 shares in the last quarter. Brevan Howard Capital Management LP raised its holdings in shares of Triumph Group by 17.1% during the 4th quarter. Brevan Howard Capital Management LP now owns 12,306 shares of the aerospace company's stock worth $230,000 after buying an additional 1,798 shares in the last quarter. Capula Management Ltd bought a new stake in shares of Triumph Group during the 4th quarter worth $297,000. Cornerstone Wealth Management LLC boosted its stake in Triumph Group by 3.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 15,964 shares of the aerospace company's stock valued at $298,000 after buying an additional 580 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Triumph Group in the fourth quarter valued at about $310,000. 94.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Triumph Group

In other Triumph Group news, CAO Jennifer H. Allen sold 35,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $25.32, for a total transaction of $886,200.00. Following the completion of the sale, the chief accounting officer now directly owns 51,696 shares in the company, valued at approximately $1,308,942.72. This trade represents a 40.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.31% of the stock is owned by company insiders.

Triumph Group Trading Up 0.0%

NYSE:TGI traded up $0.01 during trading hours on Friday, hitting $25.68. 907,401 shares of the company were exchanged, compared to its average volume of 1,232,336. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 3.57 and a beta of 2.34. The company has a fifty day simple moving average of $25.25 and a 200 day simple moving average of $21.88. Triumph Group, Inc. has a one year low of $11.01 and a one year high of $25.80.

Triumph Group (NYSE:TGI - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The aerospace company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.03. Triumph Group had a net margin of 45.08% and a negative return on equity of 55.18%. Equities research analysts predict that Triumph Group, Inc. will post 0.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TGI has been the subject of several research analyst reports. Truist Financial boosted their target price on Triumph Group from $19.00 to $26.00 and gave the stock a "hold" rating in a research note on Tuesday, February 4th. Wolfe Research downgraded shares of Triumph Group from an "outperform" rating to a "peer perform" rating in a research note on Monday, February 10th. Baird R W cut shares of Triumph Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 4th. Robert W. Baird reiterated a "neutral" rating and issued a $26.00 price target (up from $20.00) on shares of Triumph Group in a research note on Tuesday, February 4th. Finally, StockNews.com started coverage on Triumph Group in a report on Monday. They issued a "hold" rating for the company. One analyst has rated the stock with a sell rating and ten have given a hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $20.63.

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.