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

Titan Machinery Inc. (NASDAQ:TITN - Get Free Report) Chairman David Joseph Meyer purchased 3,000 shares of the stock in a transaction on Monday, March 24th. The shares were purchased at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the transaction, the chairman now directly owns 138,388 shares of the company's stock, valued at approximately $2,333,221.68. This represents a 2.22 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

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 Trading Down 4.4 %

Shares of NASDAQ:TITN traded down $0.80 during midday trading on Friday, hitting $17.27. 252,721 shares of the stock traded hands, compared to its average volume of 260,820. 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 market capitalization of $399.39 million, a PE ratio of 12.89 and a beta of 1.28. Titan Machinery Inc. has a one year low of $12.30 and a one year high of $24.87. The business's 50 day moving average is $17.00 and its two-hundred day moving average is $15.25.

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Hedge Funds Weigh In On Titan Machinery

Hedge funds and other institutional investors have recently modified their holdings of the stock. R Squared Ltd bought a new position in shares of Titan Machinery in the 4th quarter worth about $26,000. Russell Investments Group Ltd. grew its holdings in Titan Machinery by 51.2% in the fourth quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company's stock worth $37,000 after purchasing an additional 882 shares during the period. Truvestments Capital LLC bought a new position in shares of Titan Machinery during the third quarter valued at approximately $41,000. US Bancorp DE lifted its holdings in shares of Titan Machinery by 23.8% during the fourth quarter. US Bancorp DE now owns 3,861 shares of the company's stock valued at $55,000 after purchasing an additional 741 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Titan Machinery by 142.5% during the third quarter. FMR LLC now owns 5,262 shares of the company's stock valued at $73,000 after purchasing an additional 3,092 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company's stock.

Analysts Set New Price Targets

TITN has been the topic of a number of recent research reports. Robert W. Baird reduced their price target on shares of Titan Machinery from $25.00 to $24.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. B. Riley initiated coverage on Titan Machinery in a research note on Thursday. They set a "neutral" rating and a $19.00 price objective on the stock. Finally, Baird R W upgraded Titan Machinery from a "hold" rating to a "strong-buy" rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $19.80.

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.