Hsbc Holdings PLC Invests $604,000 in Titan Machinery Inc. (NASDAQ:TITN)

Hsbc Holdings PLC acquired a new stake in shares of Titan Machinery Inc. (NASDAQ:TITN - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 42,824 shares of the company's stock, valued at approximately $604,000. Hsbc Holdings PLC owned approximately 0.19% of Titan Machinery at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Voss Capital LP lifted its position in Titan Machinery by 141.7% in the fourth quarter. Voss Capital LP now owns 684,459 shares of the company's stock worth $9,671,000 after buying an additional 401,302 shares during the last quarter. MYDA Advisors LLC bought a new stake in shares of Titan Machinery during the fourth quarter worth $448,000. CenterBook Partners LP bought a new stake in shares of Titan Machinery during the fourth quarter worth $1,438,000. Russell Investments Group Ltd. lifted its position in shares of Titan Machinery by 51.2% during the fourth 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 last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Titan Machinery by 29.3% during the fourth 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 last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Titan Machinery

In other Titan Machinery news, Chairman David Joseph Meyer purchased 22,524 shares of the company's stock in a transaction dated Friday, March 21st. The shares were acquired at an average price of $16.83 per share, for a total transaction of $379,078.92. Following the completion of the purchase, the chairman now owns 135,388 shares of the company's stock, valued at approximately $2,278,580.04. The trade was a 19.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought a total of 26,182 shares of company stock worth $439,661 over the last three months. Corporate insiders own 10.28% of the company's stock.

Analysts Set New Price Targets

TITN has been the subject of several research analyst reports. Northland Capmk upgraded Titan Machinery from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Robert W. Baird decreased their target price on Titan Machinery from $25.00 to $24.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Northland Securities upgraded Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 target price for the company in a research report on Friday, April 11th. Baird R W upgraded Titan Machinery from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 27th. Finally, B. Riley began coverage on Titan Machinery in a research note on Thursday, March 27th. They set a "neutral" rating and a $19.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $19.80.

Titan Machinery Stock Up 2.0%

Shares of TITN stock traded up $0.38 during mid-day trading on Friday, hitting $19.36. 160,661 shares of the stock traded hands, compared to its average volume of 273,721. Titan Machinery Inc. has a 52-week low of $12.30 and a 52-week high of $24.25. The stock has a market cap of $446.94 million, a P/E ratio of 14.45 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 stock's fifty day moving average is $16.24 and its two-hundred day moving average is $15.83.

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.