Titan Machinery Inc. (NASDAQ:TITN) Shares Sold by Dauntless Investment Group LLC

Key Points

• Dauntless Investment Group LLC reduced its stake in Titan Machinery by 39.4%, now holding 31,678 shares, making Titan 19th in its portfolio.
• Institutional investors and hedge funds collectively own 78.38% of Titan Machinery's stock, indicating strong institutional interest.
• Titan Machinery's latest earnings report surpassed analysts' expectations, with revenue of $594.34 million compared to the estimated $445.76 million.

Dauntless Investment Group LLC cut its holdings in Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 39.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 31,678 shares of the company's stock after selling 20,565 shares during the period. Titan Machinery accounts for about 0.6% of Dauntless Investment Group LLC's holdings, making the stock its 19th biggest position. Dauntless Investment Group LLC owned 0.14% of Titan Machinery worth $540,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its holdings in Titan Machinery by 51.2% in the 4th quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company's stock valued at $37,000 after acquiring an additional 882 shares during the last quarter. New York State Common Retirement Fund raised its holdings in Titan Machinery by 42.8% in the 1st quarter. New York State Common Retirement Fund now owns 4,674 shares of the company's stock valued at $80,000 after acquiring an additional 1,400 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Titan Machinery by 29.3% in the 4th quarter. Wells Fargo & Company MN now owns 12,397 shares of the company's stock valued at $175,000 after acquiring an additional 2,808 shares during the last quarter. LPL Financial LLC acquired a new position in Titan Machinery in the 4th quarter valued at $175,000. Finally, Granahan Investment Management LLC purchased a new stake in shares of Titan Machinery during the 4th quarter valued at $195,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Northland Securities raised shares of Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 price target for the company in a research report on Friday, April 11th. Northland Capmk raised shares of Titan Machinery from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Wall Street Zen raised shares of Titan Machinery from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Lake Street Capital reaffirmed a "hold" rating and set a $18.00 price target (up from $15.00) on shares of Titan Machinery in a research report on Friday, May 23rd. Finally, B. Riley upped their price objective 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. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $21.00.

Titan Machinery Stock Down 1.9%

Shares of Titan Machinery stock traded down $0.36 during trading on Friday, reaching $18.96. The company had a trading volume of 91,789 shares, compared to its average volume of 260,206. The company has a market cap of $437.53 million, a price-to-earnings ratio of -7.22 and a beta of 1.35. The firm's fifty day moving average is $19.75 and its 200-day moving average is $18.01. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.18 and a current ratio of 1.33. 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 issued its earnings results on Thursday, May 22nd. The company reported ($0.58) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.79) by $0.21. The business had revenue of $594.34 million for the quarter, compared to analyst estimates of $445.76 million. Titan Machinery had a negative net margin of 2.23% and a negative return on equity of 8.22%.

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.