Granahan Investment Management LLC Makes New Investment in Titan Machinery Inc. (NASDAQ:TITN)

Granahan Investment Management LLC bought a new stake in Titan Machinery Inc. (NASDAQ:TITN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 13,826 shares of the company’s stock, valued at approximately $195,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Focus Partners Wealth boosted its stake in shares of Titan Machinery by 16.7% in the 4th quarter. Focus Partners Wealth now owns 70,000 shares of the company’s stock valued at $989,000 after buying an additional 10,000 shares during the period. Deutsche Bank AG lifted its stake in Titan Machinery by 9.0% in the fourth quarter. Deutsche Bank AG now owns 597,714 shares of the company’s stock worth $8,446,000 after acquiring an additional 49,178 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in Titan Machinery by 5.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 20,000 shares of the company’s stock worth $283,000 after acquiring an additional 962 shares during the last quarter. Bank of America Corp DE grew its holdings in Titan Machinery by 76.9% during the 4th quarter. Bank of America Corp DE now owns 153,787 shares of the company’s stock worth $2,173,000 after acquiring an additional 66,853 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Titan Machinery by 1.6% in the 4th quarter. Northern Trust Corp now owns 184,160 shares of the company’s stock valued at $2,602,000 after purchasing an additional 2,894 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Titan Machinery Trading Up 2.0 %

Shares of Titan Machinery stock opened at $19.36 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32. The company has a market capitalization of $446.94 million, a P/E ratio of 14.45 and a beta of 1.35. Titan Machinery Inc. has a 1 year low of $12.30 and a 1 year high of $24.25. The company’s fifty day moving average is $16.24 and its two-hundred day moving average is $15.82.

Insider Buying and Selling

In related news, Chairman David Joseph Meyer acquired 3,000 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was bought at an average cost of $16.86 per share, with a total value of $50,580.00. Following the transaction, the chairman now owns 138,388 shares of the company’s stock, valued at $2,333,221.68. The trade was a 2.22 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have purchased a total of 26,182 shares of company stock valued at $439,661 over the last quarter. 10.28% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TITN has been the subject of several recent analyst reports. Baird R W raised shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 27th. Northland Securities raised Titan Machinery from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a report on Friday, April 11th. Robert W. Baird dropped their price objective on Titan Machinery from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Northland Capmk raised Titan Machinery from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. Finally, B. Riley started coverage on shares of Titan Machinery in a research note on Thursday, March 27th. They issued a “neutral” rating and a $19.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.80.

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.