Jane Street Group LLC Decreases Holdings in Titan Machinery Inc. (NASDAQ:TITN)

Jane Street Group LLC cut its stake in Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 51.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,234 shares of the company's stock after selling 29,141 shares during the period. Jane Street Group LLC owned 0.12% of Titan Machinery worth $385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TITN. R Squared Ltd purchased a new stake in Titan Machinery in the fourth quarter worth about $26,000. Empowered Funds LLC lifted its holdings in Titan Machinery by 5.1% in the fourth quarter. Empowered Funds LLC now owns 20,000 shares of the company's stock worth $283,000 after buying an additional 962 shares during the period. Meixler Investment Management Ltd. purchased a new stake in Titan Machinery in the fourth quarter worth about $142,000. US Bancorp DE lifted its holdings in Titan Machinery by 23.8% in the fourth quarter. US Bancorp DE now owns 3,861 shares of the company's stock worth $55,000 after buying an additional 741 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings 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 worth $122,000 after buying an additional 4,103 shares during the period. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman David Joseph Meyer bought 3,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was bought at an average price of $16.86 per share, with a total value of $50,580.00. Following the acquisition, the chairman now owns 138,388 shares of the company's stock, valued at approximately $2,333,221.68. This represents a 2.22% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased a total of 26,182 shares of company stock worth $439,661 over the last quarter. 10.28% of the stock is currently owned by corporate insiders.

Titan Machinery Stock Performance

NASDAQ:TITN traded up $0.34 during trading hours on Tuesday, reaching $18.85. The company had a trading volume of 84,758 shares, compared to its average volume of 261,895. The company has a current ratio of 1.32, a quick ratio of 0.15 and a debt-to-equity ratio of 0.20. Titan Machinery Inc. has a 52 week low of $12.30 and a 52 week high of $23.41. The firm has a market cap of $435.17 million, a price-to-earnings ratio of 14.07 and a beta of 1.35. The firm's 50 day moving average price is $17.75 and its 200-day moving average price is $16.49.

Titan Machinery (NASDAQ:TITN - Get Free Report) last posted its earnings results on Thursday, May 22nd. The company reported ($0.58) EPS for the quarter, topping 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 net margin of 1.10% and a return on equity of 5.91%.

Analysts Set New Price Targets

Several research firms have recently issued reports on TITN. B. Riley lifted their target price 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. Northland Securities upgraded shares of Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 target price for the company in a report on Friday, April 11th. Northland Capmk upgraded shares of Titan Machinery from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Robert W. Baird reduced their price target on shares of Titan Machinery from $25.00 to $24.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Finally, Lake Street Capital reissued a "hold" rating and set a $18.00 price target (up previously from $15.00) on shares of Titan Machinery in a research report on Friday, May 23rd. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $21.00.

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.