Titan Machinery Inc. (NASDAQ:TITN) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its holdings in Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 64.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,899 shares of the company's stock after selling 120,401 shares during the quarter. Renaissance Technologies LLC owned approximately 0.28% of Titan Machinery worth $931,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Jane Street Group LLC boosted its stake in shares of Titan Machinery by 122.1% during the third quarter. Jane Street Group LLC now owns 56,375 shares of the company's stock worth $785,000 after buying an additional 30,997 shares during the period. Barclays PLC grew its stake in shares of Titan Machinery by 287.0% in the 3rd quarter. Barclays PLC now owns 31,872 shares of the company's stock valued at $444,000 after purchasing an additional 23,637 shares during the last quarter. R Squared Ltd acquired a new position in shares of Titan Machinery in the fourth quarter valued at approximately $26,000. Empowered Funds LLC raised its stake in shares of Titan Machinery by 5.1% during the fourth quarter. Empowered Funds 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, Meixler Investment Management Ltd. acquired a new stake in shares of Titan Machinery during the fourth quarter worth $142,000. Hedge funds and other institutional investors own 78.38% of the company's stock.

Titan Machinery Trading Down 1.4 %

Shares of NASDAQ TITN traded down $0.25 during midday trading on Tuesday, reaching $17.75. 166,836 shares of the stock were exchanged, compared to its average volume of 271,812. 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 company has a market capitalization of $409.78 million, a P/E ratio of 13.25 and a beta of 1.35. The stock has a 50 day moving average price of $16.09 and a 200-day moving average price of $15.74. Titan Machinery Inc. has a 52-week low of $12.30 and a 52-week high of $24.28.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. B. Riley started coverage on Titan Machinery in a research note on Thursday, March 27th. They issued a "neutral" rating and a $19.00 price target on the stock. 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 research 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 on the stock in a report on Friday, March 21st. Northland Capmk raised shares of Titan Machinery from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. Finally, Baird R W raised Titan Machinery from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.80.

Insiders Place Their Bets

In other Titan Machinery news, Chairman David Joseph Meyer acquired 3,000 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were acquired at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the acquisition, the chairman now directly owns 138,388 shares of the company's stock, valued at $2,333,221.68. This trade represents a 2.22 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders bought 26,182 shares of company stock valued at $439,661. Company insiders own 10.28% of the company's stock.

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.