MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 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. grew its stake in shares of Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 109.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,817,108 shares of the company's stock after acquiring an additional 948,707 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 7.87% of Titan Machinery worth $30,964,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TITN. SummerHaven Investment Management LLC grew its stake in shares of Titan Machinery by 1.5% during the first quarter. SummerHaven Investment Management LLC now owns 51,255 shares of the company's stock valued at $873,000 after buying an additional 768 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Titan Machinery by 5.1% during the fourth quarter. Bridgeway Capital Management LLC now owns 20,000 shares of the company's stock worth $283,000 after purchasing an additional 962 shares during the period. Gabelli Funds LLC boosted its holdings in shares of Titan Machinery by 1.1% during the first quarter. Gabelli Funds LLC now owns 94,500 shares of the company's stock worth $1,610,000 after purchasing an additional 1,000 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Titan Machinery by 8.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,655 shares of the company's stock worth $208,000 after buying an additional 1,197 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in Titan Machinery by 42.8% in the first quarter. New York State Common Retirement Fund now owns 4,674 shares of the company's stock worth $80,000 after buying an additional 1,400 shares during the period. Institutional investors own 78.38% of the company's stock.

Wall Street Analyst Weigh In

TITN has been the subject of a number of analyst reports. Lake Street Capital reaffirmed a "hold" rating and set a $18.00 target price (up previously from $15.00) on shares of Titan Machinery in a research note on Friday, May 23rd. Wall Street Zen downgraded shares of Titan Machinery from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, B. Riley raised their price target 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. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $22.25.

Titan Machinery Stock Performance

NASDAQ:TITN traded down $0.73 during trading hours on Tuesday, reaching $20.31. The company had a trading volume of 138,038 shares, compared to its average volume of 164,602. The firm's 50 day moving average price is $20.01 and its 200-day moving average price is $18.46. The firm has a market cap of $474.64 million, a price-to-earnings ratio of -7.52 and a beta of 1.30. Titan Machinery Inc. has a 52 week low of $12.50 and a 52 week high of $23.41. The company has a current ratio of 1.31, a quick ratio of 0.18 and a debt-to-equity ratio of 0.32.

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

About Titan Machinery

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.