Nuveen Asset Management LLC trimmed its stake in Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 28.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,900 shares of the company's stock after selling 23,021 shares during the quarter. Nuveen Asset Management LLC owned 0.25% of Titan Machinery worth $804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. R Squared Ltd purchased a new stake in Titan Machinery in the 4th quarter worth approximately $26,000. Empowered Funds LLC raised its holdings in shares of Titan Machinery by 5.1% during the fourth quarter. Empowered Funds LLC now owns 20,000 shares of the company's stock worth $283,000 after acquiring an additional 962 shares in the last quarter. Meixler Investment Management Ltd. purchased a new stake in shares of Titan Machinery during the fourth quarter worth $142,000. US Bancorp DE boosted its position in Titan Machinery by 23.8% during the fourth quarter. US Bancorp DE now owns 3,861 shares of the company's stock valued at $55,000 after purchasing an additional 741 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Titan Machinery by 91.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,611 shares of the company's stock valued at $122,000 after purchasing an additional 4,103 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Titan Machinery news, Chairman David Joseph Meyer bought 3,000 shares of the stock in a transaction on Monday, March 24th. The shares were purchased at an average price of $16.86 per share, with a total value of $50,580.00. Following the acquisition, the chairman now directly owns 138,388 shares of the company's stock, valued at $2,333,221.68. This represents a 2.22% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders acquired 26,182 shares of company stock valued at $439,661. Insiders own 10.28% of the company's stock.
Titan Machinery Stock Performance
Shares of Titan Machinery stock traded up $0.23 on Friday, reaching $18.78. The stock had a trading volume of 235,393 shares, compared to its average volume of 260,413. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32. The business's 50-day moving average price is $17.82 and its two-hundred day moving average price is $16.55. The stock has a market cap of $433.56 million, a P/E ratio of 14.02 and a beta of 1.35. Titan Machinery Inc. has a fifty-two week low of $12.30 and a fifty-two week high of $23.41.
Titan Machinery (NASDAQ:TITN - Get Free Report) last announced its earnings results on Thursday, May 22nd. The company reported ($0.58) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.21. Titan Machinery had a net margin of 1.10% and a return on equity of 5.91%. The firm had revenue of $594.34 million for the quarter, compared to the consensus estimate of $445.76 million.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the stock. Northland Capmk raised shares of Titan Machinery from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. 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 report on Tuesday, May 27th. Lake Street Capital reaffirmed a "hold" rating and issued a $18.00 price objective (up previously from $15.00) on shares of Titan Machinery in a research note on Friday, May 23rd. Northland Securities raised shares of Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 target price on the stock in a research report on Friday, April 11th. Finally, Robert W. Baird cut their target price on Titan Machinery from $25.00 to $24.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $21.00.
Read Our Latest Report on TITN
About Titan Machinery
(
Free Report)
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.
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