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Bessemer Group Inc. Invests $10.72 Million in Titan Machinery Inc. (NASDAQ:TITN)

Titan Machinery logo with Retail/Wholesale background

Bessemer Group Inc. bought a new position in Titan Machinery Inc. (NASDAQ:TITN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 628,806 shares of the company's stock, valued at approximately $10,716,000. Bessemer Group Inc. owned about 2.72% of Titan Machinery as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. raised its stake in shares of Titan Machinery by 0.5% in the 4th quarter. American Century Companies Inc. now owns 1,229,637 shares of the company's stock valued at $17,375,000 after buying an additional 5,938 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Titan Machinery by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 1,193,202 shares of the company's stock valued at $16,860,000 after acquiring an additional 4,955 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in Titan Machinery by 2.0% in the fourth quarter. William Blair Investment Management LLC now owns 920,090 shares of the company's stock valued at $13,001,000 after buying an additional 17,689 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Titan Machinery by 5.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 868,401 shares of the company's stock worth $12,270,000 after purchasing an additional 48,445 shares during the last quarter. Finally, Voss Capital LP grew its position in shares of Titan Machinery by 141.7% during the 4th quarter. Voss Capital LP now owns 684,459 shares of the company's stock worth $9,671,000 after buying an additional 401,302 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Titan Machinery Stock Performance

NASDAQ:TITN traded up $0.08 on Monday, reaching $19.81. 125,676 shares of the company's stock were exchanged, compared to its average volume of 257,546. The stock has a fifty day simple moving average of $19.07 and a 200-day simple moving average of $17.07. The firm has a market cap of $457.21 million, a price-to-earnings ratio of -7.53 and a beta of 1.35. Titan Machinery Inc. has a 52 week low of $12.30 and a 52 week high of $23.41. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.18.

Titan Machinery (NASDAQ:TITN - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The company reported ($0.58) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.21. The company had revenue of $594.34 million during the quarter, compared to analyst estimates of $445.76 million. Titan Machinery had a negative return on equity of 8.22% and a negative net margin of 2.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TITN shares. Lake Street Capital reissued a "hold" rating and set a $18.00 price objective (up previously from $15.00) on shares of Titan Machinery in a research report on Friday, May 23rd. Wall Street Zen raised shares of Titan Machinery from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Robert W. Baird dropped their price target 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. Northland Capmk upgraded Titan Machinery from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Finally, B. Riley upped their price target on shares of Titan Machinery from $19.00 to $22.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. Three analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $21.00.

Check Out Our Latest Report on Titan Machinery

Titan Machinery Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Titan Machinery (NASDAQ:TITN)

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