Titan Machinery Inc. (NASDAQ:TITN) Chairman Purchases $379,078.92 in Stock

Titan Machinery Inc. (NASDAQ:TITN - Get Free Report) Chairman David Joseph Meyer bought 22,524 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were purchased at an average cost of $16.83 per share, with a total value of $379,078.92. Following the purchase, 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 acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

David Joseph Meyer also recently made the following trade(s):

• On Monday, March 24th, David Joseph Meyer purchased 3,000 shares of Titan Machinery stock. The shares were acquired at an average price of $16.86 per share, with a total value of $50,580.00.

Titan Machinery Stock Down 4.4 %

Titan Machinery stock traded down $0.80 during mid-day trading on Friday, reaching $17.27. The stock had a trading volume of 252,721 shares, compared to its average volume of 260,820. The firm 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 fifty-two week low of $12.30 and a fifty-two week high of $24.87. The stock's 50-day simple moving average is $17.00 and its 200-day simple moving average is $15.25. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32.

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Analysts Set New Price Targets

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

Institutional Trading of Titan Machinery

Several hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC raised its holdings in Titan Machinery by 28.9% during the fourth quarter. Squarepoint Ops LLC now owns 38,697 shares of the company's stock worth $547,000 after buying an additional 8,678 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Titan Machinery by 12.4% in the 4th quarter. Millennium Management LLC now owns 38,689 shares of the company's stock worth $547,000 after acquiring an additional 4,266 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Titan Machinery by 5.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 868,401 shares of the company's stock valued at $12,270,000 after acquiring an additional 48,445 shares in the last quarter. Granahan Investment Management LLC bought a new position in Titan Machinery in the 4th quarter valued at about $195,000. Finally, Focus Partners Wealth boosted its stake in Titan Machinery by 16.7% during the 4th quarter. Focus Partners Wealth now owns 70,000 shares of the company's stock valued at $989,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.

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.