MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 948,707 Shares of Titan Machinery Inc. $TITN

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Titan Machinery Inc. by 109.2%, acquiring an additional 948,707 shares to hold a total of 1,817,108 shares worth approximately $30.96 million.
• Analysts have mixed sentiments on Titan Machinery, with Lake Street Capital maintaining a "hold" rating and a price target increase to $18, while B. Riley set a higher target of $22 with a "neutral" rating.
• Titan Machinery reported a revenue of $546.43 million for the last quarter, surpassing expectations, although it posted a loss of -$0.26 earnings per share compared to a consensus estimate of -$0.56.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 109.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,817,108 shares of the company's stock after acquiring an additional 948,707 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 7.87% of Titan Machinery worth $30,964,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TITN. Wells Fargo & Company MN grew its holdings in Titan Machinery by 29.3% during the 4th quarter. Wells Fargo & Company MN now owns 12,397 shares of the company's stock worth $175,000 after acquiring an additional 2,808 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in 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 purchasing an additional 1,197 shares during the period. Northern Trust Corp lifted its position in Titan Machinery by 1.6% during the 4th quarter. Northern Trust Corp now owns 184,160 shares of the company's stock valued at $2,602,000 after purchasing an additional 2,894 shares during the period. Bank of America Corp DE lifted its position in Titan Machinery by 76.9% during the 4th 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 period. Finally, Bridgeway Capital Management LLC lifted its position in 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 purchasing an additional 962 shares during the period. Institutional investors own 78.38% of the company's stock.

Titan Machinery Stock Down 3.3%

TITN stock traded down $0.66 during mid-day trading on Friday, hitting $19.29. 59,566 shares of the company were exchanged, compared to its average volume of 242,333. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.18 and a current ratio of 1.31. The firm has a market cap of $450.78 million, a P/E ratio of -7.16 and a beta of 1.30. The firm's 50 day simple moving average is $19.94 and its 200 day simple moving average is $18.50. Titan Machinery Inc. has a 1-year low of $12.50 and a 1-year high of $23.41.

Titan Machinery (NASDAQ:TITN - Get Free Report) last announced its earnings results on Thursday, August 28th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.30. The firm had revenue of $546.43 million for the quarter, compared to the consensus estimate of $503.80 million. Titan Machinery had a negative net margin of 2.37% and a negative return on equity of 9.99%. Titan Machinery has set its FY 2026 guidance at -2.000--1.500 EPS.

Analyst Ratings Changes

A number of research analysts have issued reports on TITN shares. 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 report on Tuesday, May 27th. Wall Street Zen downgraded shares of Titan Machinery from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. Finally, Lake Street Capital reiterated a "hold" rating and issued a $18.00 price target (up from $15.00) on shares of Titan Machinery in a research report on Friday, May 23rd. Two investment 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 MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $22.25.

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.