CenterBook Partners LP Sells 29,681 Shares of Titan Machinery Inc. (NASDAQ:TITN)

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

Several other hedge funds have also recently added to or reduced their stakes in the business. US Bancorp DE grew its position in Titan Machinery by 23.8% during the 4th quarter. US Bancorp DE now owns 3,861 shares of the company's stock worth $55,000 after purchasing an additional 741 shares in the last quarter. SummerHaven Investment Management LLC grew its position in Titan Machinery by 1.5% during the 1st quarter. SummerHaven Investment Management LLC now owns 51,255 shares of the company's stock worth $873,000 after purchasing an additional 768 shares in the last quarter. Russell Investments Group Ltd. grew its position in Titan Machinery by 51.2% during the 4th quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company's stock worth $37,000 after purchasing an additional 882 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Titan Machinery by 5.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 20,000 shares of the company's stock valued at $283,000 after acquiring an additional 962 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Titan Machinery by 8.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,655 shares of the company's stock valued at $208,000 after acquiring an additional 1,197 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TITN. Lake Street Capital restated a "hold" rating and set a $18.00 price target (up from $15.00) on shares of Titan Machinery in a 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. Northland Securities upgraded 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 report on Friday, April 11th. Northland Capmk upgraded shares of Titan Machinery from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Finally, B. Riley upped their target price 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 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 stock. According to MarketBeat, Titan Machinery currently has an average rating of "Moderate Buy" and an average target price of $21.00.

Titan Machinery Price Performance

Titan Machinery stock traded down $0.24 during trading hours on Friday, hitting $19.39. 136,871 shares of the stock were exchanged, compared to its average volume of 251,345. Titan Machinery Inc. has a 12 month low of $12.30 and a 12 month high of $23.41. The business's 50-day moving average is $19.92 and its two-hundred day moving average is $17.62. The stock has a market capitalization of $447.52 million, a P/E ratio of -7.37 and a beta of 1.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.18 and a current ratio of 1.33.

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

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.