ClariVest Asset Management LLC Sells 75,807 Shares of Triumph Group, Inc. (NYSE:TGI)

ClariVest Asset Management LLC decreased its position in Triumph Group, Inc. (NYSE:TGI) by 72.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,244 shares of the aerospace company’s stock after selling 75,807 shares during the quarter. ClariVest Asset Management LLC’s holdings in Triumph Group were worth $451,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in shares of Triumph Group in the 1st quarter worth $35,000. Quest Partners LLC bought a new stake in shares of Triumph Group in the 2nd quarter worth $41,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Triumph Group in the 1st quarter worth $56,000. Lazard Asset Management LLC grew its stake in shares of Triumph Group by 98.3% in the 1st quarter. Lazard Asset Management LLC now owns 3,877 shares of the aerospace company’s stock worth $58,000 after acquiring an additional 1,922 shares in the last quarter. Finally, CWM LLC grew its stake in shares of Triumph Group by 473.7% in the 2nd quarter. CWM LLC now owns 5,146 shares of the aerospace company’s stock worth $79,000 after acquiring an additional 4,249 shares in the last quarter. Institutional investors own 94.53% of the company’s stock.

Triumph Group Price Performance

Shares of NYSE TGI opened at $13.58 on Friday. Triumph Group, Inc. has a one year low of $7.00 and a one year high of $17.87. The firm’s 50 day simple moving average is $14.76 and its two-hundred day simple moving average is $14.45. The stock has a market capitalization of $1.05 billion, a P/E ratio of 2.05, a PEG ratio of 16.94 and a beta of 2.50.

Triumph Group (NYSE:TGI) last issued its quarterly earnings results on Wednesday, August 7th. The aerospace company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates 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 in the previous year, the business earned ($0.10) earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. As a group, equities analysts expect that Triumph Group, Inc. will post 0.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TGI. Truist Financial lowered shares of Triumph Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $17.00 to $15.00 in a research note on Wednesday, August 21st. Barclays reduced their price target on shares of Triumph Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. StockNews.com lowered shares of Triumph Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 1st. Jefferies Financial Group restated a “hold” rating and set a $14.00 price target (down previously from $20.00) on shares of Triumph Group in a research report on Monday, August 12th. Finally, The Goldman Sachs Group downgraded shares of Triumph Group from a “buy” rating to a “neutral” rating and lowered their target price for the company from $19.00 to $15.00 in a research note on Tuesday, August 13th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $16.67.

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.