Tiger Cub Andreas Halvorsen Is Bullish on Triumph Group Inc (TGI)
In a 13G filing with the Securities and Exchange Commission, Viking Global, a hedge fund managed by Andreas Halvorsen, disclosed ownership of about 2.8 million shares of Triumph Group Inc (NYSE:TGI). At the current price of the company's stock, the value of the Viking Global's stake in Triumph Group amounts to almost $210 million. In the latest round of 13F filings, in which hedge funds disclose their equity portfolios as at the end of the quarter, Viking Global reported a position in Triumph Group, which involved about 2.1 million shares, worth $162.9 million. Andreas Halvorsen's hedge fund first started its position in Triumph Group during the second quarter of the year, and with the most recent purchase, he might join other investors that are "super long" on Triumph Group Inc (NYSE:TGI).
In today’s marketplace, there are plenty of methods shareholders can use to track Mr. Market. 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 fund managers can outpace the market by a healthy amount (see just how much).
Just as key, optimistic insider trading sentiment is a second way to analyze the financial markets. Just as you'd expect, there are many stimuli for an upper level exec to get rid of shares of his or her company, but just one, very obvious reason why they would behave bullishly. Many empirical studies have demonstrated the useful potential of this method if shareholders understand where to look (learn more here).
Keeping this in mind, let's discuss the latest info about Triumph Group Inc (NYSE:TGI).
How are hedge funds trading Triumph Group Inc (NYSE:TGI)?
At the end of the second quarter, a total of 25 of the hedge funds we track were bullish in this stock, a change of 14% from the previous quarter. With hedge funds' sentiment swirling, there exists an "upper tier" of key hedge fund managers who were boosting their stakes considerably.
Out of the hedge funds we follow, Harris Associates, managed by Natixis Global Asset Management, holds the most valuable position in Triumph Group Inc (NYSE:TGI). Harris Associates has a $186.6 million position in the stock, comprising 0.4% of its 13F portfolio. On Harris Associates's heels is Andreas Halvorsen's Viking Global, with a $162.9 million position; 0.9% of its 13F portfolio is allocated to the company. Other peers that are bullish include Joe DiMenna's ZWEIG DIMENNA PARTNERS, Ken Fisher's Fisher Asset Management and D. E. Shaw's D E Shaw.
Now, certain bigger names have been driving this bullishness. Viking Global, managed by Andreas Halvorsen, established the biggest position in Triumph Group Inc (NYSE:TGI). Viking Global had 162.9 million invested in the company at the end of the quarter. Joe DiMenna's ZWEIG DIMENNA PARTNERS also initiated a $30.2 million position during the quarter. The other funds with new positions in the stock are Ken Fisher's Fisher Asset Management, D. E. Shaw's D E Shaw, and Van Schreiber's Bennett Lawrence Management.
How are insiders trading Triumph Group Inc (NYSE:TGI)?
Legal insider trading, particularly when it's bullish, is at its handiest when the company we're looking at has seen transactions within the past 180 days. Over the latest 180-day time period, Triumph Group Inc (NYSE:TGI) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We'll go over the relationship between both of these indicators 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 belong to the aerospace/defense products & services industry and their market caps match TGI's market cap.
# of Hedge Funds
# of Insiders Buying
# of Insiders Selling
Huntington Ingalls Industries Inc (NYSE:HII)
Spirit AeroSystems Holdings, Inc. (NYSE:SPR)
Hexcel Corporation (NYSE:HXL)
Teledyne Technologies Incorporated (NYSE:TDY)
FLIR Systems, Inc. (NASDAQ:FLIR)
Using the results demonstrated by the previously mentioned analyses, regular investors must always pay attention to hedge fund and insider trading activity, and Triumph Group Inc (NYSE:TGI) shareholders fit into this picture quite nicely.