Insider Buying: Titan Machinery Inc. (NASDAQ:TITN) Chairman Acquires 3,000 Shares of Stock

Titan Machinery Inc. (NASDAQ:TITN) Chairman David Joseph Meyer bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was bought at an average price of $16.86 per share, with a total value of $50,580.00. Following the completion of the transaction, the chairman now directly owns 138,388 shares of the company’s stock, valued at $2,333,221.68. This represents a 2.22 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

David Joseph Meyer also recently made the following trade(s):

• On Friday, March 21st, David Joseph Meyer acquired 22,524 shares of Titan Machinery stock. The shares were purchased at an average price of $16.83 per share, for a total transaction of $379,078.92.

Titan Machinery Stock Up 4.8 %

Titan Machinery stock traded up $0.85 during mid-day trading on Tuesday, reaching $18.62. The stock had a trading volume of 171,136 shares, compared to its average volume of 253,502. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15. The company has a market capitalization of $430.61 million, a price-to-earnings ratio of 13.88 and a beta of 1.28. Titan Machinery Inc. has a one year low of $12.30 and a one year high of $24.89. The company has a 50-day moving average price of $16.77 and a two-hundred day moving average price of $15.15.

Analyst Ratings Changes

A number of equities research analysts recently commented on TITN shares. Baird R W upgraded shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a report on Monday, January 27th. Robert W. Baird dropped their target price on shares of Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.00.

Institutional Trading of Titan Machinery

A number of institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC raised its stake in Titan Machinery by 28.9% during the 4th quarter. Squarepoint Ops LLC now owns 38,697 shares of the company’s stock valued at $547,000 after buying an additional 8,678 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Titan Machinery by 12.4% in the 4th quarter. Millennium Management LLC now owns 38,689 shares of the company’s stock worth $547,000 after purchasing an additional 4,266 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Titan Machinery by 5.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 868,401 shares of the company’s stock valued at $12,270,000 after buying an additional 48,445 shares during the period. Granahan Investment Management LLC purchased a new stake in Titan Machinery during the fourth quarter valued at approximately $195,000. Finally, Focus Partners Wealth lifted its position in shares of Titan Machinery by 16.7% in the fourth quarter. Focus Partners Wealth now owns 70,000 shares of the company’s stock valued at $989,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

Titan Machinery Company 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.