Bank of New York Mellon Corp Cuts Stake in Titan Machinery Inc. (NASDAQ:TITN)

Bank of New York Mellon Corp decreased its position in shares of Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 15.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 75,102 shares of the company's stock after selling 14,079 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.32% of Titan Machinery worth $1,061,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of Titan Machinery in the fourth quarter worth about $26,000. Truvestments Capital LLC purchased a new stake in shares of Titan Machinery during the 3rd quarter valued at approximately $41,000. FMR LLC boosted its holdings in Titan Machinery by 142.5% in the 3rd quarter. FMR LLC now owns 5,262 shares of the company's stock worth $73,000 after buying an additional 3,092 shares during the period. Meixler Investment Management Ltd. bought a new stake in Titan Machinery during the 4th quarter valued at $142,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Titan Machinery during the third quarter worth $229,000. Hedge funds and other institutional investors own 78.38% of the company's stock.

Titan Machinery Price Performance

Shares of NASDAQ:TITN traded down $0.80 on Friday, hitting $17.27. The company's stock had a trading volume of 252,721 shares, compared to its average volume of 260,549. The company has a market capitalization of $399.39 million, a PE ratio of 12.89 and a beta of 1.28. 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 50-day simple moving average of $16.95 and a 200 day simple moving average of $15.22. Titan Machinery Inc. has a 1 year low of $12.30 and a 1 year high of $24.89.

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Insider Buying and Selling

In related news, 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 cost of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the transaction, the chairman now owns 138,388 shares of the company's stock, valued at approximately $2,333,221.68. The trade was a 2.22 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.28% of the stock is owned by company insiders.

Analyst Ratings Changes

TITN has been the subject of a number of analyst reports. Baird R W upgraded Titan Machinery from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 27th. B. Riley started coverage on Titan Machinery in a report on Thursday. They set a "neutral" rating and a $19.00 target price for the company. Finally, Robert W. Baird lowered their price target on shares of Titan Machinery from $25.00 to $24.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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.