Rice Hall James & Associates LLC lowered its holdings in Titan Machinery Inc. (NASDAQ:TITN) by 5.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 83,132 shares of the company’s stock after selling 4,877 shares during the quarter. Rice Hall James & Associates LLC owned 0.37% of Titan Machinery worth $1,711,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aperio Group LLC acquired a new stake in Titan Machinery in the 2nd quarter valued at approximately $29,000. Public Employees Retirement System of Ohio grew its holdings in Titan Machinery by 51.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,534 shares of the company’s stock valued at $33,000 after buying an additional 866 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Titan Machinery by 33.3% in the 4th quarter. Macquarie Group Ltd. now owns 3,199 shares of the company’s stock valued at $42,000 after buying an additional 800 shares during the last quarter. Legal & General Group Plc grew its holdings in Titan Machinery by 51.7% in the 4th quarter. Legal & General Group Plc now owns 4,110 shares of the company’s stock valued at $55,000 after buying an additional 1,400 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in Titan Machinery by 108.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,143 shares of the company’s stock valued at $64,000 after buying an additional 2,151 shares during the last quarter. 78.95% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TITN stock traded up $0.49 during mid-day trading on Friday, reaching $18.01. The stock had a trading volume of 496 shares, compared to its average volume of 129,240. The firm’s 50 day simple moving average is $20.03 and its 200 day simple moving average is $18.30. The company has a quick ratio of 0.31, a current ratio of 1.39 and a debt-to-equity ratio of 0.36. Titan Machinery Inc. has a one year low of $11.99 and a one year high of $21.88. The firm has a market cap of $414.61 million, a PE ratio of 27.18 and a beta of 2.13.
In other Titan Machinery news, Director Tony Christianson sold 22,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $19.63, for a total value of $431,860.00. Following the completion of the sale, the director now owns 42,076 shares in the company, valued at approximately $825,951.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Bryan J. Knutson sold 3,711 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $19.71, for a total value of $73,143.81. Following the completion of the sale, the chief operating officer now owns 28,315 shares of the company’s stock, valued at approximately $558,088.65. The disclosure for this sale can be found here. 15.37% of the stock is currently owned by company insiders.
A number of analysts have issued reports on the company. BidaskClub lowered Titan Machinery from a “hold” rating to a “sell” rating in a report on Friday. Zacks Investment Research raised Titan Machinery from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a report on Tuesday, June 4th. Robert W. Baird raised Titan Machinery from a “neutral” rating to an “outperform” rating and raised their target price for the company from $18.00 to $24.00 in a report on Sunday, June 16th. Finally, ValuEngine downgraded Titan Machinery from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Titan Machinery has an average rating of “Hold” and a consensus target price of $21.50.
Titan Machinery Profile
Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores. It operates through three segments: Agriculture, Construction, and International. 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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