Squarepoint Ops LLC Sells 86,692 Shares of Titan Machinery Inc. $TITN

Key Points

• Squarepoint Ops LLC cut its Titan Machinery stake by 81.7% in the second quarter, selling 86,692 shares and retaining 19,466 shares worth approximately $411,000.
• Several major investors initiated positions, including Nantahala Capital Management and Jupiter Topco, while institutional investors collectively own 78.38% of Titan Machinery.
• Titan Machinery reported a quarterly loss of $0.40 per share, missing estimates by $0.04, despite revenue of $496.38 million exceeding expectations. Analysts’ consensus rating is Hold, with a $29 price target versus the stock’s reported $23.80 price.

Squarepoint Ops LLC lowered its position in Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 81.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,466 shares of the company's stock after selling 86,692 shares during the quarter. Squarepoint Ops LLC owned 0.08% of Titan Machinery worth $411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Nantahala Capital Management LLC acquired a new stake in Titan Machinery during the 2nd quarter worth approximately $23,930,819. Empowered Funds LLC acquired a new position in Titan Machinery in the 2nd quarter valued at approximately $2,753,000. Public Employees Retirement System of Ohio bought a new position in shares of Titan Machinery during the second quarter valued at $459,000. Bank of America Corp DE bought a new position in shares of Titan Machinery during the second quarter valued at $1,863,000. Finally, Jupiter Topco LLC acquired a new position in shares of Titan Machinery during the second quarter worth $23,822,000. Institutional investors own 78.38% of the company's stock.

Titan Machinery Price Performance

Shares of NASDAQ TITN opened at $23.80 on Tuesday. The company has a market capitalization of $560.01 million, a PE ratio of -9.56 and a beta of 1.43. The company has a quick ratio of 0.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.33. Titan Machinery Inc. has a twelve month low of $13.21 and a twelve month high of $26.90. The firm has a fifty day simple moving average of $20.35 and a 200 day simple moving average of $19.74.

Titan Machinery (NASDAQ:TITN - Get Free Report) last issued its quarterly earnings results on Thursday, August 27th. The company reported ($0.40) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.04). The business had revenue of $496.38 million for the quarter, compared to analyst estimates of $483.78 million. Titan Machinery had a negative return on equity of 9.17% and a negative net margin of 2.46%.Titan Machinery has set its FY 2027 guidance at -1.750--1.250 EPS. On average, sell-side analysts forecast that Titan Machinery Inc. will post -1.67 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TITN. Weiss Ratings restated a "sell (d-)" rating on shares of Titan Machinery in a report on Monday, June 29th. Robert W. Baird set a $29.00 price target on Titan Machinery and gave the company an "outperform" rating in a research report on Monday, August 31st. Finally, Wall Street Zen cut Titan Machinery from a "hold" rating to a "sell" rating in a research note on Sunday, September 6th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $29.00.

Titan Machinery Company Profile

Titan Machinery Inc is an agricultural and construction equipment dealer headquartered in West Fargo, North Dakota. The company operates a network of dealerships that sells new and used equipment, replacement parts, and related products to farmers, construction contractors, and other commercial customers.

Its agricultural offerings include tractors, combines, planting and seeding equipment, sprayers, hay and forage machinery, and other farm equipment. Its construction business provides equipment such as excavators, wheel loaders, skid steers, dozers, and other machinery used in construction and infrastructure projects.

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