Voss Capital LP grew its holdings in Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 141.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 684,459 shares of the company's stock after purchasing an additional 401,302 shares during the period. Titan Machinery makes up about 0.7% of Voss Capital LP's portfolio, making the stock its 27th biggest position. Voss Capital LP owned about 2.96% of Titan Machinery worth $9,671,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of TITN. US Bancorp DE grew its position in Titan Machinery by 23.8% in the fourth quarter. US Bancorp DE now owns 3,861 shares of the company's stock valued at $55,000 after acquiring an additional 741 shares during the last quarter. Russell Investments Group Ltd. grew 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 valued at $37,000 after purchasing an additional 882 shares during the last quarter. Empowered Funds LLC increased its position in 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 purchasing an additional 962 shares in the last quarter. R Squared Ltd bought a new position in Titan Machinery in the 4th quarter valued at approximately $26,000. Finally, Wells Fargo & Company MN boosted its position in Titan Machinery by 29.3% in the fourth quarter. Wells Fargo & Company MN now owns 12,397 shares of the company's stock valued at $175,000 after buying an additional 2,808 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on TITN shares. 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. Northland Capmk upgraded Titan Machinery from a "hold" rating to a "strong-buy" rating 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 report on Monday, January 27th. B. Riley initiated coverage on shares of Titan Machinery in a report on Thursday, March 27th. They issued a "neutral" rating and a $19.00 price objective for the company. Finally, Robert W. Baird cut their target price on shares of Titan Machinery from $25.00 to $24.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Titan Machinery has an average rating of "Moderate Buy" and an average target price of $19.80.
Get Our Latest Stock Analysis on TITN
Titan Machinery Trading Up 0.2 %
Shares of TITN stock traded up $0.04 during mid-day trading on Friday, hitting $17.07. The company's stock had a trading volume of 141,875 shares, compared to its average volume of 269,181. The company has a market cap of $394.73 million, a PE ratio of 12.74 and a beta of 1.27. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32. The company's fifty day simple moving average is $16.16 and its 200-day simple moving average is $15.58. Titan Machinery Inc. has a 52 week low of $12.30 and a 52 week high of $24.28.
Insiders Place Their Bets
In other news, Chairman David Joseph Meyer bought 3,000 shares of Titan Machinery stock in a transaction dated Monday, March 24th. The stock was bought at an average cost of $16.86 per share, for a total transaction of $50,580.00. Following the purchase, the chairman now directly owns 138,388 shares in the company, valued at approximately $2,333,221.68. This represents a 2.22 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have acquired 26,182 shares of company stock worth $439,661. Corporate insiders own 10.28% of the company's stock.
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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