Granahan Investment Management LLC Purchases Shares of 13,826 Titan Machinery Inc. (NASDAQ:TITN)

Granahan Investment Management LLC bought a new position in shares of Titan Machinery Inc. (NASDAQ:TITN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,826 shares of the company's stock, valued at approximately $195,000. Granahan Investment Management LLC owned about 0.06% of Titan Machinery as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in TITN. Voss Capital LP boosted its holdings in Titan Machinery by 141.7% in the fourth quarter. Voss Capital LP now owns 684,459 shares of the company's stock valued at $9,671,000 after acquiring an additional 401,302 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in Titan Machinery by 42.4% in the fourth quarter. First Eagle Investment Management LLC now owns 634,509 shares of the company's stock valued at $8,966,000 after acquiring an additional 188,998 shares during the last quarter. CenterBook Partners LP bought a new position in Titan Machinery in the fourth quarter valued at about $1,438,000. Royce & Associates LP bought a new position in Titan Machinery in the fourth quarter valued at about $1,065,000. Finally, Bank of America Corp DE boosted its holdings in Titan Machinery by 76.9% in the fourth quarter. Bank of America Corp DE now owns 153,787 shares of the company's stock valued at $2,173,000 after acquiring an additional 66,853 shares during the last quarter. Institutional investors own 78.38% of the company's stock.

Insider Transactions at Titan Machinery

In other news, Chairman David Joseph Meyer bought 3,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average price of $16.86 per share, with a total value of $50,580.00. Following the transaction, the chairman now owns 138,388 shares in the company, valued at $2,333,221.68. This represents a 2.22% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired a total of 26,182 shares of company stock valued at $439,661 over the last 90 days. 10.28% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on TITN. Northland Capmk upgraded Titan Machinery from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. B. Riley began coverage on Titan Machinery in a research note on Thursday, March 27th. They issued a "neutral" rating and a $19.00 target price on the stock. Northland Securities raised Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 target price on the stock in a research note on Friday, April 11th. Baird R W raised Titan Machinery from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 27th. Finally, Robert W. Baird cut their target price on Titan Machinery from $25.00 to $24.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $19.80.

Titan Machinery Stock Down 3.3%

Shares of NASDAQ TITN traded down $0.69 during mid-day trading on Wednesday, reaching $20.54. 206,043 shares of the company's stock were exchanged, compared to its average volume of 274,921. The firm has a market capitalization of $474.19 million, a price-to-earnings ratio of 15.33 and a beta of 1.35. The company has a current ratio of 1.32, a quick ratio of 0.15 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $16.46 and a 200 day simple moving average of $15.91. Titan Machinery Inc. has a twelve month low of $12.30 and a twelve month high of $24.17.

Titan Machinery Profile

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.