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 decreased its stake in Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 39.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,678 shares of the company's stock after selling 20,565 shares during the period. Titan Machinery accounts for 0.6% of Dauntless Investment Group LLC's investment portfolio, making the stock its 19th largest holding. Dauntless Investment Group LLC owned about 0.14% of Titan Machinery worth $540,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in Titan Machinery by 51.2% during the 4th quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company's stock worth $37,000 after purchasing an additional 882 shares during the period. New York State Common Retirement Fund boosted its stake in Titan Machinery by 42.8% during the 1st quarter. New York State Common Retirement Fund now owns 4,674 shares of the company's stock worth $80,000 after purchasing an additional 1,400 shares during the period. GAMMA Investing LLC boosted its stake in Titan Machinery by 6,432.3% during the 1st quarter. GAMMA Investing LLC now owns 12,150 shares of the company's stock worth $207,000 after purchasing an additional 11,964 shares during the period. Wells Fargo & Company MN boosted its stake 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 purchasing an additional 2,808 shares during the period. Finally, LPL Financial LLC acquired a new stake in Titan Machinery during the 4th quarter worth $175,000. Institutional investors and hedge funds own 78.38% of the company's stock.

Titan Machinery Stock Performance

Shares of TITN opened at $20.38 on Tuesday. The company has a 50-day simple moving average of $19.80 and a 200-day simple moving average of $17.96. The company has a quick ratio of 0.18, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $470.37 million, a PE ratio of -7.75 and a beta of 1.35. Titan Machinery Inc. has a 52-week low of $12.30 and a 52-week high of $23.41.

Titan Machinery (NASDAQ:TITN - Get Free Report) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $445.76 million. Titan Machinery had a negative net margin of 2.23% and a negative return on equity of 8.22%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TITN shares. Wall Street Zen upgraded shares of Titan Machinery from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Lake Street Capital restated a "hold" rating and set a $18.00 price objective (up previously from $15.00) on shares of Titan Machinery in a research report on Friday, May 23rd. Northland Securities upgraded shares of Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 price objective for the company in a research report on Friday, April 11th. B. Riley upped their price objective on shares of Titan Machinery from $19.00 to $22.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Finally, Northland Capmk upgraded shares of Titan Machinery from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.00.

Titan Machinery Company 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.

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