Horos Asset Management Trimmed its Position in TransGlobe Energy Corporation (TGA)

Horos Asset Management, an investment management company, recently released its second quarter 2022 investor letter. A copy of the same can be downloaded here. Since its inception, in May 2018, Horos Value Internacional has returned 19.8% and Horos Value Iberia has returned 7.1%. For more information on the fund’s top picks in 2022, please check its top five holdings.

Horos Asset Management discussed stocks like TransGlobe Energy Corporation (NASDAQ:TGA). Headquartered in Calgary, Canada, TransGlobe Energy Corporation (NASDAQ:TGA) is in the business crude oil and natural gas. The stock of TransGlobe Energy Corporation (NASDAQ:TGA) closed at $3.4700 per share on August 18, 2022. In one month, the stock returned 7.76% and its shares gained 112.88% of their value over the last 52 weeks. TransGlobe Energy Corporation (NASDAQ:TGA) has a market capitalization of $255.787 million.

Here is what Horos Asset Management specifically said about TransGlobe Energy Corporation (NASDAQ:TGA):

“As for Sprott Physical Uranium Trust and TransGlobe Energy Corporation (NASDAQ:TGA), we trimmed our exposure exclusively due to their lower relative upside compared to other alternatives in our portfolio and new investments that we added to Horos Value Internacional in the quarter.”

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TransGlobe Energy Corporation (NASDAQ:TGA) is not on the list of 30 Most Popular Stocks Among Hedge Funds. As per our database, TransGlobe Energy Corporation (NASDAQ:TGA) was held by 3 hedge fund portfolios at the end of the first quarter, which was 5 in the previous quarter. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.