Assenagon Asset Management S.A. Has $2.09 Million Stake in Titan Machinery Inc. (NASDAQ:TITN)

Assenagon Asset Management S.A. decreased its position in shares of Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 33.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 122,756 shares of the company's stock after selling 60,889 shares during the period. Assenagon Asset Management S.A. owned about 0.53% of Titan Machinery worth $2,092,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in shares of Titan Machinery by 91.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,611 shares of the company's stock valued at $122,000 after purchasing an additional 4,103 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Titan Machinery by 2.1% during the fourth quarter. JPMorgan Chase & Co. now owns 176,652 shares of the company's stock valued at $2,496,000 after purchasing an additional 3,626 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Titan Machinery by 76.9% during the fourth quarter. Bank of America Corp DE now owns 153,787 shares of the company's stock valued at $2,173,000 after purchasing an additional 66,853 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Titan Machinery by 5.1% during the fourth quarter. Empowered Funds LLC now owns 20,000 shares of the company's stock valued at $283,000 after purchasing an additional 962 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of Titan Machinery by 23.8% during the fourth quarter. US Bancorp DE now owns 3,861 shares of the company's stock valued at $55,000 after purchasing an additional 741 shares during the last quarter. 78.38% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman David Joseph Meyer bought 3,000 shares of the business's stock in a transaction on Monday, March 24th. The shares were bought at an average cost of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the acquisition, the chairman now owns 138,388 shares in the company, valued at approximately $2,333,221.68. This trade represents a 2.22% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have bought 26,182 shares of company stock worth $439,661. Company insiders own 10.84% of the company's stock.

Titan Machinery Trading Up 0.1%

TITN stock traded up $0.02 during midday trading on Thursday, reaching $19.19. The company's stock had a trading volume of 142,269 shares, compared to its average volume of 260,770. The business's 50-day simple moving average is $18.64 and its 200-day simple moving average is $16.84. The company has a quick ratio of 0.18, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The stock has a market cap of $442.91 million, a PE ratio of -7.30 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.

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Robert W. Baird decreased their price target on shares of 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 raised shares of Titan Machinery from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. Northland Securities raised shares of Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 price objective on the stock in a research note on Friday, April 11th. B. Riley raised their price objective 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. Finally, Lake Street Capital reaffirmed a "hold" rating and issued a $18.00 price objective (up from $15.00) on shares of Titan Machinery in a research note on Friday, May 23rd. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $21.00.

About Titan Machinery

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.