61,838 Shares in Titan Machinery Inc. $TITN Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon purchased 61,838 shares of Titan Machinery, valued at approximately $1.31 million, giving it a 0.27% stake. Institutional investors collectively own 78.38% of the company.
• Analyst sentiment is mixed: Wall Street Zen and Weiss Ratings rate the stock “Sell,” while Robert W. Baird rates it “Outperform” with a $29 price target. The overall consensus rating is “Hold.”
• Titan Machinery reported a quarterly loss of $0.40 per share, missing estimates by $0.04, despite revenue of $496.38 million exceeding expectations. Shares opened at $24.35, while analysts forecast a full-year loss of approximately $1.67 per share.

Bank of New York Mellon Corp bought a new position in Titan Machinery Inc. (NASDAQ:TITN - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 61,838 shares of the company's stock, valued at approximately $1,306,000. Bank of New York Mellon Corp owned approximately 0.27% of Titan Machinery as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. State of Wyoming bought a new position in shares of Titan Machinery during the 2nd quarter worth approximately $359,000. Janus Henderson Group PLC grew its stake in Titan Machinery by 137.9% during the 1st quarter. Janus Henderson Group PLC now owns 719,639 shares of the company's stock worth $12,032,000 after buying an additional 417,190 shares during the last quarter. Quantinno Capital Management LP grew its stake in Titan Machinery by 13.5% during the 1st quarter. Quantinno Capital Management LP now owns 43,061 shares of the company's stock worth $720,000 after buying an additional 5,130 shares during the last quarter. Renaissance Technologies LLC increased its position in Titan Machinery by 33.5% during the 1st quarter. Renaissance Technologies LLC now owns 101,797 shares of the company's stock valued at $1,702,000 after buying an additional 25,569 shares in the last quarter. Finally, Stephens Investment Management Group LLC increased its position in Titan Machinery by 21.6% during the 1st quarter. Stephens Investment Management Group LLC now owns 680,469 shares of the company's stock valued at $11,377,000 after buying an additional 120,880 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TITN has been the topic of a number of research analyst reports. Wall Street Zen lowered Titan Machinery from a "hold" rating to a "sell" rating in a research note on Sunday. Weiss Ratings restated a "sell (d-)" rating on shares of Titan Machinery in a research note on Monday, June 29th. Finally, Robert W. Baird set a $29.00 target price on Titan Machinery and gave the stock an "outperform" rating in a research note on Monday, August 31st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $29.00.

Titan Machinery Stock Down 0.2%

Shares of TITN opened at $24.35 on Thursday. The company has a current ratio of 1.35, a quick ratio of 0.21 and a debt-to-equity ratio of 0.33. Titan Machinery Inc. has a 12 month low of $13.21 and a 12 month high of $26.90. The stock's 50 day moving average is $19.43 and its two-hundred day moving average is $19.50. The firm has a market cap of $572.96 million, a P/E ratio of -9.78 and a beta of 1.43.

Titan Machinery (NASDAQ:TITN - Get Free Report) last announced its earnings results on Thursday, August 27th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.04). The business had revenue of $496.38 million for the quarter, compared to analyst estimates of $483.78 million. Titan Machinery had a negative return on equity of 9.17% and a negative net margin of 2.46%.Titan Machinery has set its FY 2027 guidance at -1.750--1.250 EPS. Analysts predict that Titan Machinery Inc. will post -1.67 earnings per share for the current fiscal year.

Titan Machinery Profile

Titan Machinery, Inc is a leading full-service dealer specializing in the sale, rental, and servicing of agricultural and construction equipment. The company represents major brands such as Caterpillar, Case IH and New Holland, offering new and pre-owned tractors, combines, excavators, loaders and other heavy machinery. In addition to equipment sales, Titan provides parts distribution, preventative maintenance and field service support to help customers maximize uptime and productivity.

Beyond equipment transactions, Titan Machinery offers a comprehensive suite of support services.

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