Triumph Group Inc (NYSE:TGI) has seen a decrease in hedge fund interest lately.
To the average investor, there are tons of indicators shareholders can use to analyze the equity markets. A couple of the most under-the-radar are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the top hedge fund managers can outclass the S&P 500 by a very impressive margin (see just how much).
Just as key, optimistic insider trading activity is another way to parse down the world of equities. As the old adage goes: there are a number of reasons for an insider to get rid of shares of his or her company, but only one, very obvious reason why they would initiate a purchase. Several academic studies have demonstrated the impressive potential of this method if shareholders know where to look (learn more here).
Consequently, we’re going to take a peek at the key action encompassing Triumph Group Inc (NYSE:TGI).
Hedge fund activity in Triumph Group Inc (NYSE:TGI)
At Q1’s end, a total of 22 of the hedge funds we track held long positions in this stock, a change of -12% from one quarter earlier. With hedge funds’ sentiment swirling, there exists a select group of noteworthy hedge fund managers who were upping their holdings significantly.
Of the funds we track, Donald Chiboucis’s Columbus Circle Investors had the biggest position in Triumph Group Inc (NYSE:TGI), worth close to $48.1 million, comprising 0.4% of its total 13F portfolio. The second largest stake is held by Fisher Asset Management, managed by Ken Fisher, which held a $27.3 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Remaining hedgies with similar optimism include Joe DiMenna’s ZWEIG DIMENNA PARTNERS, Van Schreiber’s Bennett Lawrence Management and Richard Driehaus’s Driehaus Capital.
Since Triumph Group Inc (NYSE:TGI) has witnessed bearish sentiment from the aggregate hedge fund industry, we can see that there was a specific group of hedgies that slashed their full holdings last quarter. Intriguingly, Jim Simons’s Renaissance Technologies dropped the largest stake of all the hedgies we key on, totaling close to $14.8 million in stock., and Andy Redleaf of Whitebox Advisors was right behind this move, as the fund dropped about $1.2 million worth. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest fell by 3 funds last quarter.
What do corporate executives and insiders think about Triumph Group Inc (NYSE:TGI)?
Insider buying is most useful when the primary stock in question has seen transactions within the past six months. Over the last 180-day time period, Triumph Group Inc (NYSE:TGI) has seen 2 unique insiders purchasing, and 3 insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to Triumph Group Inc (NYSE:TGI). These stocks are Huntington Ingalls Industries Inc (NYSE:HII), Spirit AeroSystems Holdings, Inc. (NYSE:SPR), Hexcel Corporation (NYSE:HXL), Teledyne Technologies Incorporated (NYSE:TDY), and FLIR Systems, Inc. (NASDAQ:FLIR). This group of stocks are in the aerospace/defense products & services industry and their market caps are similar to TGI’s market cap.