Cubist Systematic Strategies LLC Sells 155,996 Shares of Triumph Group, Inc. (NYSE:TGI)

Cubist Systematic Strategies LLC lowered its position in shares of Triumph Group, Inc. (NYSE:TGI) by 87.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,627 shares of the aerospace company’s stock after selling 155,996 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Triumph Group were worth $349,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TGI. Algert Global LLC lifted its position in Triumph Group by 11.1% during the 2nd quarter. Algert Global LLC now owns 225,727 shares of the aerospace company’s stock valued at $3,478,000 after acquiring an additional 22,537 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Triumph Group by 4.1% during the second quarter. The Manufacturers Life Insurance Company now owns 35,340 shares of the aerospace company’s stock valued at $545,000 after purchasing an additional 1,405 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Triumph Group by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 361,976 shares of the aerospace company’s stock worth $5,578,000 after purchasing an additional 159,154 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Triumph Group by 311.2% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 22,300 shares of the aerospace company’s stock worth $344,000 after buying an additional 16,877 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in Triumph Group by 255.7% during the 2nd quarter. Squarepoint Ops LLC now owns 143,490 shares of the aerospace company’s stock valued at $2,211,000 after buying an additional 103,149 shares in the last quarter. Institutional investors own 94.53% of the company’s stock.

Triumph Group Stock Performance

Shares of NYSE:TGI opened at $15.00 on Monday. The stock’s 50-day simple moving average is $13.34 and its two-hundred day simple moving average is $14.29. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 2.26 and a beta of 2.49. Triumph Group, Inc. has a 52-week low of $7.07 and a 52-week high of $17.87.

Triumph Group (NYSE:TGI) last announced its earnings results on Wednesday, August 7th. The aerospace company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Triumph Group had a net margin of 40.39% and a negative return on equity of 1.77%. The business had revenue of $281.00 million for the quarter, compared to the consensus estimate of $274.64 million. During the same quarter last year, the firm posted ($0.10) earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts forecast that Triumph Group, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Bank of America cut Triumph Group from a “buy” rating to an “underperform” rating and cut their target price for the stock from $17.00 to $12.00 in a research note on Tuesday, September 24th. Truist Financial downgraded shares of Triumph Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $17.00 to $15.00 in a research note on Wednesday, August 21st. The Goldman Sachs Group cut shares of Triumph Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $19.00 to $15.00 in a report on Tuesday, August 13th. Barclays lowered their price objective on Triumph Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $14.00 target price (down previously from $20.00) on shares of Triumph Group in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $15.67.

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.