75,400 Shares in Titan Machinery Inc. (NASDAQ:TITN) Acquired by Royce & Associates LP

Royce & Associates LP bought a new position in shares of Titan Machinery Inc. (NASDAQ:TITN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 75,400 shares of the company's stock, valued at approximately $1,065,000. Royce & Associates LP owned approximately 0.33% of Titan Machinery as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Systematic Financial Management LP acquired a new position in Titan Machinery during the third quarter valued at approximately $483,000. ArrowMark Colorado Holdings LLC raised its holdings in shares of Titan Machinery by 28.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 341,832 shares of the company's stock worth $4,762,000 after buying an additional 75,710 shares in the last quarter. Barclays PLC lifted its position in shares of Titan Machinery by 287.0% during the 3rd quarter. Barclays PLC now owns 31,872 shares of the company's stock worth $444,000 after buying an additional 23,637 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in Titan Machinery by 53.8% in the third quarter. Sanctuary Advisors LLC now owns 25,550 shares of the company's stock valued at $387,000 after buying an additional 8,942 shares in the last quarter. Finally, FMR LLC grew its position in Titan Machinery by 142.5% in the third quarter. FMR LLC now owns 5,262 shares of the company's stock valued at $73,000 after acquiring an additional 3,092 shares during the last quarter. Institutional investors own 78.38% of the company's stock.

Titan Machinery Trading Down 0.4 %

NASDAQ TITN traded down $0.08 during trading hours on Wednesday, reaching $17.90. The company's stock had a trading volume of 243,003 shares, compared to its average volume of 254,669. The firm has a fifty day simple moving average of $16.84 and a 200-day simple moving average of $15.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15. Titan Machinery Inc. has a 52 week low of $12.30 and a 52 week high of $24.89. The stock has a market cap of $413.96 million, a P/E ratio of 13.36 and a beta of 1.28.

Remove Ads

Insiders Place Their Bets

In related news, Chairman David Joseph Meyer acquired 22,524 shares of the stock in a transaction dated Friday, March 21st. The stock was bought at an average cost of $16.83 per share, for a total transaction of $379,078.92. Following the completion of the transaction, the chairman now directly owns 135,388 shares of the company's stock, valued at $2,278,580.04. The trade was a 19.96 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.28% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. 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 report on Friday, March 21st. Baird R W raised shares of Titan Machinery from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Titan Machinery has an average rating of "Hold" and a consensus price target of $19.00.

About Titan Machinery

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.