Jane Street Group LLC cut its stake in shares of Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 51.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,234 shares of the company's stock after selling 29,141 shares during the quarter. Jane Street Group LLC owned 0.12% of Titan Machinery worth $385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Voss Capital LP boosted its stake in shares of Titan Machinery by 141.7% during the fourth quarter. Voss Capital LP now owns 684,459 shares of the company's stock valued at $9,671,000 after purchasing an additional 401,302 shares during the period. First Eagle Investment Management LLC raised its position in shares of Titan Machinery by 42.4% in the 4th quarter. First Eagle Investment Management LLC now owns 634,509 shares of the company's stock worth $8,966,000 after acquiring an additional 188,998 shares in the last quarter. CenterBook Partners LP bought a new stake in Titan Machinery in the fourth quarter worth $1,438,000. Royce & Associates LP purchased a new position in shares of Titan Machinery in the 4th quarter worth about $1,065,000. Finally, Dauntless Investment Group LLC bought a new position in shares of Titan Machinery in the fourth quarter worth approximately $738,000. Hedge funds and other institutional investors own 78.38% of the company's stock.
Titan Machinery Trading Down 1.3%
Shares of NASDAQ:TITN traded down $0.24 during trading on Wednesday, hitting $18.54. The company had a trading volume of 196,003 shares, compared to its average volume of 261,146. The stock has a market cap of $428.01 million, a price-to-earnings ratio of 13.84 and a beta of 1.35. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15. The company has a fifty day simple moving average of $17.79 and a two-hundred day simple moving average of $16.52. Titan Machinery Inc. has a one year low of $12.30 and a one year high of $23.41.
Titan Machinery (NASDAQ:TITN - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The company reported ($0.58) earnings per share for the quarter, topping analysts' consensus estimates of ($0.79) by $0.21. Titan Machinery had a net margin of 1.10% and a return on equity of 5.91%. The company had revenue of $594.34 million for the quarter, compared to analyst estimates of $445.76 million.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the company. Robert W. Baird dropped their price objective on Titan Machinery from $25.00 to $24.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Northland Capmk raised Titan Machinery from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. Lake Street Capital reaffirmed a "hold" rating and issued a $18.00 target price (up previously from $15.00) on shares of Titan Machinery in a report on Friday, May 23rd. Northland Securities upgraded Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 price target for the company in a research note on Friday, April 11th. Finally, B. Riley raised their price objective on Titan Machinery from $19.00 to $22.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. Two investment 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 stock has an average rating of "Buy" and an average price target of $21.00.
View Our Latest Stock Report on TITN
Insider Activity
In related news, Chairman David Joseph Meyer purchased 22,524 shares of Titan Machinery stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average price of $16.83 per share, with a total value of $379,078.92. Following the purchase, the chairman now directly owns 135,388 shares of the company's stock, valued at approximately $2,278,580.04. This represents a 19.96% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders purchased 26,182 shares of company stock valued at $439,661. 10.28% of the stock is currently owned by company insiders.
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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