CenterBook Partners LP Decreases Stock Position in Titan Machinery Inc. (NASDAQ:TITN)

CenterBook Partners LP lessened its position in Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 29.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 72,075 shares of the company's stock after selling 29,681 shares during the period. CenterBook Partners LP owned about 0.31% of Titan Machinery worth $1,228,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TITN. US Bancorp DE boosted its position 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 worth $55,000 after acquiring an additional 741 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in 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. Royce & Associates LP bought a new position in Titan Machinery during the fourth quarter valued at $1,065,000. William Blair Investment Management LLC lifted its position in Titan Machinery by 2.0% during the fourth quarter. William Blair Investment Management LLC now owns 920,090 shares of the company's stock valued at $13,001,000 after purchasing an additional 17,689 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Titan Machinery by 0.5% during the fourth quarter. American Century Companies Inc. now owns 1,229,637 shares of the company's stock valued at $17,375,000 after purchasing an additional 5,938 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Titan Machinery Stock Performance

NASDAQ TITN traded down $0.24 on Friday, hitting $19.39. 136,871 shares of the company's stock traded hands, compared to its average volume of 251,756. The company has a current ratio of 1.33, a quick ratio of 0.18 and a debt-to-equity ratio of 0.33. Titan Machinery Inc. has a 1-year low of $12.30 and a 1-year high of $23.41. The firm's 50-day moving average price is $19.92 and its two-hundred day moving average price is $17.70. The firm has a market capitalization of $447.52 million, a PE ratio of -7.37 and a beta of 1.35.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TITN shares. B. Riley lifted their price objective on shares of Titan Machinery from $19.00 to $22.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Northland Securities upgraded shares of Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 price objective for the company in a report on Friday, April 11th. Wall Street Zen raised shares of Titan Machinery from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Lake Street Capital reissued a "hold" rating and set a $18.00 target price (up previously from $15.00) on shares of Titan Machinery in a research report on Friday, May 23rd. Finally, Northland Capmk raised shares of Titan Machinery from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Three research 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 company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $21.00.

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.