Kennedy Capital Management LLC Trims Holdings in Titan Machinery Inc. (NASDAQ:TITN)

Kennedy Capital Management LLC trimmed its holdings in shares of Titan Machinery Inc. (NASDAQ:TITN) by 1.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 58,616 shares of the company’s stock after selling 846 shares during the period. Kennedy Capital Management LLC owned approximately 0.26% of Titan Machinery worth $1,454,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its position in shares of Titan Machinery by 13.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 11,583 shares of the company’s stock valued at $335,000 after buying an additional 1,379 shares in the last quarter. Smith Graham & Co. Investment Advisors LP lifted its position in Titan Machinery by 20.3% during the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 286,708 shares of the company’s stock valued at $8,280,000 after acquiring an additional 48,438 shares during the last quarter. MBM Wealth Consultants LLC acquired a new stake in Titan Machinery in the fourth quarter valued at approximately $463,000. Voss Capital LLC lifted its holdings in shares of Titan Machinery by 11.5% during the 4th quarter. Voss Capital LLC now owns 175,000 shares of the company’s stock valued at $5,054,000 after purchasing an additional 18,017 shares during the last quarter. Finally, Semanteon Capital Management LP acquired a new stake in shares of Titan Machinery in the 4th quarter worth $509,000. Institutional investors own 78.38% of the company’s stock.

Insider Buying and Selling

In other news, Director David Joseph Meyer acquired 55,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average cost of $18.12 per share, with a total value of $996,600.00. Following the transaction, the director now owns 1,805,000 shares in the company, valued at $32,706,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 10.28% of the company’s stock.

Titan Machinery Stock Performance

NASDAQ:TITN opened at $17.83 on Thursday. The company’s 50-day moving average is $16.89 and its two-hundred day moving average is $22.05. The firm has a market capitalization of $406.88 million, a price-to-earnings ratio of 4.29 and a beta of 1.32. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.29 and a quick ratio of 0.15. Titan Machinery Inc. has a 1-year low of $14.72 and a 1-year high of $34.99.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings data on Thursday, May 23rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.26). Titan Machinery had a return on equity of 14.93% and a net margin of 3.37%. The business had revenue of $628.70 million for the quarter, compared to analyst estimates of $664.18 million. Analysts forecast that Titan Machinery Inc. will post 2.22 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Robert W. Baird cut their price target on shares of Titan Machinery from $24.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. StockNews.com lowered Titan Machinery from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. B. Riley cut shares of Titan Machinery from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $32.00 to $20.00 in a research note on Wednesday, June 5th. Finally, Craig Hallum cut their price objective on shares of Titan Machinery from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $26.25.

Titan Machinery 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.