Teachers Advisors LLC boosted its stake in shares of Titan Machinery Inc. (NASDAQ:TITN) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,879 shares of the company’s stock after buying an additional 2,050 shares during the period. Teachers Advisors LLC owned about 0.15% of Titan Machinery worth $464,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in TITN. Dynamic Technology Lab Private Ltd purchased a new position in shares of Titan Machinery during the fourth quarter valued at $174,000. A.R.T. Advisors LLC acquired a new stake in Titan Machinery during the fourth quarter valued at approximately $186,000. Ellington Management Group LLC acquired a new stake in Titan Machinery during the fourth quarter valued at approximately $200,000. Wexford Capital LP acquired a new stake in Titan Machinery during the fourth quarter valued at approximately $239,000. Finally, WFG Advisors LP boosted its stake in Titan Machinery by 139,330.0% in the fourth quarter. WFG Advisors LP now owns 13,943 shares of the company’s stock valued at $285,000 after buying an additional 13,933 shares during the period. 80.92% of the stock is owned by hedge funds and other institutional investors.
Shares of Titan Machinery Inc. (NASDAQ:TITN) opened at 18.45 on Friday. The stock’s market cap is $394.31 million. Titan Machinery Inc. has a 12-month low of $8.68 and a 12-month high of $19.22. The firm has a 50-day moving average price of $16.50 and a 200 day moving average price of $14.94.
Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings data on Thursday, May 25th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by $0.06. The business had revenue of $264.10 million during the quarter, compared to analysts’ expectations of $257 million. Titan Machinery had a negative return on equity of 4.11% and a negative net margin of 1.37%. The firm’s revenue was down 7.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.21) earnings per share. Equities research analysts predict that Titan Machinery Inc. will post $0.04 EPS for the current fiscal year.
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Several research firms have commented on TITN. Zacks Investment Research cut Titan Machinery from a “hold” rating to a “sell” rating in a report on Wednesday, April 12th. TheStreet upgraded Titan Machinery from a “d+” rating to a “c-” rating in a report on Monday, April 10th. Finally, ValuEngine upgraded Titan Machinery from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $16.50.
In related news, Chairman David Joseph Meyer sold 44,950 shares of the stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $17.25, for a total value of $775,387.50. Following the completion of the sale, the chairman now directly owns 724,660 shares of the company’s stock, valued at approximately $12,500,385. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.08% of the stock is currently owned by corporate insiders.
About Titan Machinery
Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services, and equipment rental and other activities.
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