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Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the fourth quarter. You can find articles about an individual hedge fund's trades on numerous financial news websites. However, in this article we will take a look at their collective moves over the last 6 years and analyze what the smart money thinks of Triumph Group Inc (NYSE:TGI) based on that data.
Is Triumph Group Inc (NYSE:TGI) a buy right now? Money managers were becoming hopeful. The number of long hedge fund positions advanced by 4 in recent months. Triumph Group Inc (NYSE:TGI) was in 22 hedge funds' portfolios at the end of March. The all time high for this statistic is 26. Our calculations also showed that TGI isn't among the 30 most popular stocks among hedge funds (click for Q1 rankings). There were 18 hedge funds in our database with TGI holdings at the end of December.
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Matthew Hulsizer of PEAK6 Capital
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Do Hedge Funds Think TGI Is A Good Stock To Buy Now?
At the end of the first quarter, a total of 22 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 22% from the previous quarter. Below, you can check out the change in hedge fund sentiment towards TGI over the last 23 quarters. So, let's see which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Maple Rock Capital, managed by Len Kipp and Xavier Majic, holds the number one position in Triumph Group Inc (NYSE:TGI). Maple Rock Capital has a $43.2 million position in the stock, comprising 6.3% of its 13F portfolio. Coming in second is ACK Asset Management, managed by Richard S. Meisenberg, which holds a $19.8 million position; 7.9% of its 13F portfolio is allocated to the stock. Some other members of the smart money that hold long positions encompass Chuck Royce's Royce & Associates, Herbert Frazier's Hill City Capital and Ken Griffin's Citadel Investment Group. In terms of the portfolio weights assigned to each position ACK Asset Management allocated the biggest weight to Triumph Group Inc (NYSE:TGI), around 7.87% of its 13F portfolio. Maple Rock Capital is also relatively very bullish on the stock, setting aside 6.27 percent of its 13F equity portfolio to TGI.
With a general bullishness amongst the heavyweights, some big names have jumped into Triumph Group Inc (NYSE:TGI) headfirst. Schonfeld Strategic Advisors, managed by Ryan Tolkin (CIO), initiated the largest position in Triumph Group Inc (NYSE:TGI). Schonfeld Strategic Advisors had $9.3 million invested in the company at the end of the quarter. David MacKnight's One Fin Capital Management also made a $8.3 million investment in the stock during the quarter. The other funds with brand new TGI positions are Greg Eisner's Engineers Gate Manager, Matthew Hulsizer's PEAK6 Capital Management, and Paul Tudor Jones's Tudor Investment Corp.
Let's now review hedge fund activity in other stocks similar to Triumph Group Inc (NYSE:TGI). We will take a look at Gracell Biotechnologies Inc. (NASDAQ:GRCL), ConnectOne Bancorp Inc (NASDAQ:CNOB), Akero Therapeutics, Inc. (NASDAQ:AKRO), America's Car-Mart, Inc. (NASDAQ:CRMT), CTS Corporation (NYSE:CTS), MGP Ingredients Inc (NASDAQ:MGPI), and LeMaitre Vascular Inc (NASDAQ:LMAT). This group of stocks' market caps match TGI's market cap.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position GRCL,15,185761,15 CNOB,10,35934,-1 AKRO,15,292870,0 CRMT,10,84744,-1 CTS,14,88363,3 MGPI,7,28731,-6 LMAT,10,16013,-2 Average,11.6,104631,1.1 [/table]
View table here if you experience formatting issues.
As you can see these stocks had an average of 11.6 hedge funds with bullish positions and the average amount invested in these stocks was $105 million. That figure was $197 million in TGI's case. Gracell Biotechnologies Inc. (NASDAQ:GRCL) is the most popular stock in this table. On the other hand MGP Ingredients Inc (NASDAQ:MGPI) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Triumph Group Inc (NYSE:TGI) is more popular among hedge funds. Our overall hedge fund sentiment score for TGI is 84.4. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. Our calculations showed that top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 23.8% in 2021 through July 16th and still beat the market by 7.7 percentage points. Unfortunately TGI wasn't nearly as popular as these 5 stocks and hedge funds that were betting on TGI were disappointed as the stock returned -5.2% since the end of the first quarter (through 7/16) and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out the top 5 most popular stocks among hedge funds as most of these stocks already outperformed the market since 2019.
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Disclosure: None. This article was originally published at Insider Monkey.