Deutsche Bank AG Invests $12.91 Million in Titan Machinery Inc. $TITN

Key Points

• Deutsche Bank acquired 611,482 Titan Machinery shares worth approximately $12.91 million in the second quarter, giving it a 2.62% stake. Institutional investors and hedge funds collectively own 78.38% of the company.
• Titan Machinery shares were reported up 11.6%, opening at $20.18, while the company posted quarterly revenue of $522.38 million and an adjusted loss of $0.55 per share—better than analysts’ expectations.
• Analyst sentiment remains cautious: Titan Machinery has a consensus rating of “Reduce” and an average price target of $17, below the reported trading price.

Deutsche Bank AG purchased a new stake in Titan Machinery Inc. (NASDAQ:TITN - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund purchased 611,482 shares of the company's stock, valued at approximately $12,914,000. Deutsche Bank AG owned about 2.62% of Titan Machinery at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TITN. Quarry LP lifted its stake in Titan Machinery by 189.8% during the third quarter. Quarry LP now owns 1,536 shares of the company's stock worth $26,000 after purchasing an additional 1,006 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Titan Machinery by 352.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company's stock valued at $52,000 after purchasing an additional 2,043 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Titan Machinery by 94.3% during the third quarter. BNP Paribas Financial Markets now owns 4,032 shares of the company's stock worth $67,000 after purchasing an additional 1,957 shares during the period. Graham Capital Management L.P. raised its holdings in shares of Titan Machinery by 8.1% during the fourth quarter. Graham Capital Management L.P. now owns 11,640 shares of the company's stock worth $175,000 after purchasing an additional 869 shares during the period. Finally, State of Wyoming lifted its position in shares of Titan Machinery by 48.2% in the 2nd quarter. State of Wyoming now owns 9,442 shares of the company's stock worth $187,000 after buying an additional 3,070 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Titan Machinery Trading Up 11.6%

NASDAQ:TITN opened at $20.18 on Friday. Titan Machinery Inc. has a 12-month low of $13.21 and a 12-month high of $25.00. The firm has a market capitalization of $470.19 million, a P/E ratio of -8.59 and a beta of 1.41. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 0.22. The business has a 50 day simple moving average of $19.13 and a 200 day simple moving average of $19.22.

Titan Machinery (NASDAQ:TITN - Get Free Report) last issued its quarterly earnings data on Tuesday, June 9th. The company reported ($0.55) EPS for the quarter, topping analysts' consensus estimates of ($0.60) by $0.05. Titan Machinery had a negative return on equity of 8.44% and a negative net margin of 2.28%.The firm had revenue of $522.38 million during the quarter, compared to the consensus estimate of $485.61 million. During the same period in the prior year, the business earned ($0.58) EPS. Titan Machinery has set its FY 2027 guidance at -1.750--1.250 EPS. Equities research analysts predict that Titan Machinery Inc. will post -1.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TITN. Wall Street Zen raised shares of Titan Machinery from a "sell" rating to a "hold" rating in a report on Saturday, June 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Titan Machinery in a research note on Monday, June 29th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $17.00.

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.

Want to see what other hedge funds are holding TITN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Titan Machinery Inc. (NASDAQ:TITN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source