Driehaus Capital Management LLC Acquires New Shares in Titan Machinery Inc. $TITN

Key Points

• Driehaus Capital Management LLC has acquired 291,594 shares of Titan Machinery Inc., valued at approximately $4.97 million, representing a 1.26% ownership stake in the company.
• Several institutional investors, including Wells Fargo and HSBC, have also recently increased their stakes in Titan Machinery, indicating strong institutional interest in the stock.
• Analysts have upgraded Titan Machinery's ratings, with price targets increasing to as high as $22.00, reflecting positive sentiment about the company's performance and potential growth.

Driehaus Capital Management LLC bought a new stake in shares of Titan Machinery Inc. (NASDAQ:TITN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 291,594 shares of the company's stock, valued at approximately $4,969,000. Driehaus Capital Management LLC owned 1.26% of Titan Machinery at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State of Wyoming acquired a new stake in Titan Machinery during the first quarter valued at $109,000. Trexquant Investment LP grew its position in shares of Titan Machinery by 87.0% during the 1st quarter. Trexquant Investment LP now owns 60,936 shares of the company's stock valued at $1,038,000 after acquiring an additional 28,345 shares during the period. EVR Research LP purchased a new position in shares of Titan Machinery in the 1st quarter valued at about $3,067,000. Gabelli Funds LLC raised its stake in shares of Titan Machinery by 1.1% during the 1st quarter. Gabelli Funds LLC now owns 94,500 shares of the company's stock worth $1,610,000 after buying an additional 1,000 shares during the period. Finally, Jump Financial LLC raised its stake in shares of Titan Machinery by 17.5% during the 1st quarter. Jump Financial LLC now owns 34,426 shares of the company's stock worth $587,000 after buying an additional 5,126 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Lake Street Capital reiterated a "hold" rating and issued a $18.00 target price (up previously from $15.00) on shares of Titan Machinery in a research report on Friday, May 23rd. B. Riley lifted their price objective on Titan Machinery from $19.00 to $22.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. Finally, Wall Street Zen raised Titan Machinery from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $22.25.

Titan Machinery Price Performance

Shares of NASDAQ:TITN traded up $0.02 during midday trading on Thursday, hitting $20.35. The company had a trading volume of 57,814 shares, compared to its average volume of 245,569. Titan Machinery Inc. has a twelve month low of $12.50 and a twelve month high of $23.41. The stock has a market cap of $469.68 million, a price-to-earnings ratio of -7.54 and a beta of 1.30. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.18. The business's 50-day simple moving average is $19.96 and its 200-day simple moving average is $18.41.

Titan Machinery (NASDAQ:TITN - Get Free Report) last issued its earnings results on Thursday, August 28th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.30. The company had revenue of $546.43 million during the quarter, compared to analysts' expectations of $503.80 million. Titan Machinery had a negative return on equity of 9.91% and a negative net margin of 2.37%. Titan Machinery has set its FY 2026 guidance at -2.000--1.500 EPS.

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.