CenterBook Partners LP bought a new stake in Titan Machinery Inc. (NASDAQ:TITN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 101,756 shares of the company's stock, valued at approximately $1,438,000. CenterBook Partners LP owned about 0.44% of Titan Machinery at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its stake in shares of Titan Machinery by 51.2% during the 4th quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company's stock worth $37,000 after acquiring an additional 882 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Titan Machinery by 29.3% in the 4th quarter. Wells Fargo & Company MN now owns 12,397 shares of the company's stock worth $175,000 after buying an additional 2,808 shares during the last quarter. ExodusPoint Capital Management LP purchased a new position in shares of Titan Machinery in the 4th quarter worth approximately $374,000. Trexquant Investment LP lifted its holdings in shares of Titan Machinery by 39.5% in the 4th quarter. Trexquant Investment LP now owns 32,591 shares of the company's stock worth $461,000 after acquiring an additional 9,226 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Titan Machinery by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 482,744 shares of the company's stock worth $6,823,000 after purchasing an additional 8,958 shares during the period. Hedge funds and other institutional investors own 78.38% of the company's stock.
Titan Machinery Price Performance
TITN traded down $0.12 during trading on Wednesday, reaching $15.99. The stock had a trading volume of 32,969 shares, compared to its average volume of 266,850. Titan Machinery Inc. has a 1-year low of $12.30 and a 1-year high of $24.28. The company has a quick ratio of 0.15, a current ratio of 1.32 and a debt-to-equity ratio of 0.20. The stock has a 50 day moving average of $16.51 and a two-hundred day moving average of $15.45. The firm has a market capitalization of $369.75 million, a price-to-earnings ratio of 11.93 and a beta of 1.27.
Insider Activity at Titan Machinery
In other news, Chairman David Joseph Meyer acquired 22,524 shares of the stock in a transaction dated Friday, March 21st. The shares were acquired 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 owns 135,388 shares in the company, valued at approximately $2,278,580.04. This trade represents a 19.96 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders bought 26,182 shares of company stock valued at $439,661. Insiders own 10.28% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. Northland Capmk raised shares of Titan Machinery from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Baird R W raised shares of Titan Machinery from a "hold" rating to a "strong-buy" rating in a report on Monday, January 27th. Northland Securities raised shares of Titan Machinery from a "market perform" rating to an "outperform" rating and set a $25.00 target price for the company in a report on Friday, April 11th. Robert W. Baird decreased their target price on Titan Machinery from $25.00 to $24.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Finally, B. Riley began coverage on Titan Machinery in a research note on Thursday, March 27th. They issued a "neutral" rating and a $19.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $19.80.
View Our Latest Stock Report on Titan Machinery
Titan Machinery Profile
(
Free Report)
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.
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