Two Sigma Advisers LP Trims Stock Position in Titan Machinery Inc. (NASDAQ:TITN)

Two Sigma Advisers LP lowered its stake in shares of Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 19.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,766 shares of the company's stock after selling 16,300 shares during the period. Two Sigma Advisers LP owned 0.30% of Titan Machinery worth $972,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TITN. US Bancorp DE raised its holdings in shares of Titan Machinery by 23.8% during the 4th quarter. US Bancorp DE now owns 3,861 shares of the company's stock worth $55,000 after acquiring an additional 741 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of 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 acquiring an additional 882 shares during the period. Empowered Funds LLC raised its holdings in shares of Titan Machinery by 5.1% during the 4th quarter. Empowered Funds LLC now owns 20,000 shares of the company's stock worth $283,000 after acquiring an additional 962 shares during the period. Bridgeway Capital Management LLC increased its position in shares of Titan Machinery by 5.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 20,000 shares of the company's stock worth $283,000 after purchasing an additional 962 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Titan Machinery by 8.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,655 shares of the company's stock worth $208,000 after purchasing an additional 1,197 shares during the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Titan Machinery Stock Performance

Shares of Titan Machinery stock traded up $0.01 during trading hours on Thursday, hitting $18.55. 235,255 shares of the company were exchanged, compared to its average volume of 260,513. Titan Machinery Inc. has a 1 year low of $12.30 and a 1 year high of $23.41. The company has a current ratio of 1.32, a quick ratio of 0.15 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average of $17.82 and a 200-day moving average of $16.55. The stock has a market capitalization of $428.25 million, a price-to-earnings ratio of 13.84 and a beta of 1.35.

Titan Machinery (NASDAQ:TITN - Get Free Report) last announced 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. The firm had revenue of $594.34 million for the quarter, compared to analyst estimates of $445.76 million. Titan Machinery had a return on equity of 5.91% and a net margin of 1.10%.

Analyst Ratings Changes

A number of brokerages recently issued reports on TITN. Lake Street Capital reissued a "hold" rating and set a $18.00 price objective (up from $15.00) on shares of Titan Machinery in a research report on Friday, May 23rd. B. Riley lifted their price objective on Titan Machinery from $19.00 to $22.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. Northland Securities raised Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 price target for the company in a report on Friday, April 11th. Northland Capmk raised Titan Machinery from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Finally, Robert W. Baird reduced their price objective on Titan Machinery from $25.00 to $24.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $21.00.

Insider Buying and Selling at Titan Machinery

In related news, Chairman David Joseph Meyer acquired 3,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average price of $16.86 per share, with a total value of $50,580.00. Following the completion of the purchase, the chairman now directly owns 138,388 shares in the company, valued at approximately $2,333,221.68. The trade was a 2.22% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have bought 26,182 shares of company stock valued at $439,661. Insiders own 10.28% of the company's stock.

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.