Brandywine Global Investment Management LLC Trims Stake in Titan Machinery Inc. (TITN)

Brandywine Global Investment Management LLC trimmed its holdings in Titan Machinery Inc. (NASDAQ:TITN) by 21.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 409,457 shares of the company’s stock after selling 112,630 shares during the period. Brandywine Global Investment Management LLC owned 1.92% of Titan Machinery worth $7,363,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TITN. Voya Investment Management LLC raised its position in Titan Machinery by 14.2% during the 2nd quarter. Voya Investment Management LLC now owns 11,520 shares of the company’s stock worth $207,000 after buying an additional 1,429 shares during the last quarter. OxFORD Asset Management LLP boosted its holdings in Titan Machinery by 35.9% in the 2nd quarter. OxFORD Asset Management LLP now owns 14,844 shares of the company’s stock valued at $267,000 after purchasing an additional 3,924 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Titan Machinery by 16.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 977,624 shares of the company’s stock valued at $17,577,000 after purchasing an additional 136,914 shares in the last quarter. EAM Investors LLC boosted its holdings in Titan Machinery by 115.1% in the 2nd quarter. EAM Investors LLC now owns 88,378 shares of the company’s stock valued at $1,589,000 after purchasing an additional 47,287 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Titan Machinery by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 738,459 shares of the company’s stock valued at $13,277,000 after purchasing an additional 24,232 shares in the last quarter. 76.78% of the stock is owned by institutional investors and hedge funds.

Shares of Titan Machinery Inc. (NASDAQ:TITN) opened at 15.97 on Wednesday. The firm’s 50-day moving average price is $14.87 and its 200-day moving average price is $16.12. The stock’s market capitalization is $344.07 million. Titan Machinery Inc. has a 52-week low of $8.68 and a 52-week high of $19.22.

Titan Machinery (NASDAQ:TITN) last posted its quarterly earnings data on Thursday, August 31st. The company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.03). The firm had revenue of $268.87 million during the quarter, compared to the consensus estimate of $260.08 million. Titan Machinery had a negative return on equity of 3.69% and a negative net margin of 1.61%. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.12) EPS. Equities analysts forecast that Titan Machinery Inc. will post ($0.22) earnings per share for the current fiscal year.

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In other Titan Machinery news, Director Stan K. Erickson purchased 8,302 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were purchased at an average cost of $12.50 per share, for a total transaction of $103,775.00. Following the completion of the transaction, the director now owns 13,495 shares in the company, valued at $168,687.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.08% of the stock is currently owned by insiders.

TITN has been the subject of several recent analyst reports. Zacks Investment Research raised Titan Machinery from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Friday, June 30th. BidaskClub lowered Titan Machinery from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Piper Jaffray Companies set a $18.00 price objective on Titan Machinery and gave the stock a “hold” rating in a report on Friday, August 4th. Robert W. Baird set a $18.00 price objective on Titan Machinery and gave the stock a “buy” rating in a research report on Thursday, August 24th. Finally, ValuEngine cut Titan Machinery from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Titan Machinery presently has an average rating of “Hold” and a consensus target price of $18.50.

Titan Machinery Company Profile

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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Institutional Ownership by Quarter for Titan Machinery (NASDAQ:TITN)

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