Squarepoint Ops LLC Buys 74,209 Shares of Titan Machinery Inc. (NASDAQ:TITN)

Squarepoint Ops LLC grew its stake in shares of Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 552.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,648 shares of the company's stock after buying an additional 74,209 shares during the period. Squarepoint Ops LLC owned approximately 0.38% of Titan Machinery worth $1,394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new position in shares of Titan Machinery during the 2nd quarter valued at about $36,000. Canada Pension Plan Investment Board bought a new position in shares of Titan Machinery during the 2nd quarter valued at about $37,000. nVerses Capital LLC raised its position in Titan Machinery by 118.2% in the 2nd quarter. nVerses Capital LLC now owns 2,400 shares of the company's stock valued at $38,000 after buying an additional 1,300 shares during the last quarter. Waterfront Wealth Inc. acquired a new stake in Titan Machinery in the 2nd quarter valued at approximately $177,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Titan Machinery in the 2nd quarter valued at approximately $218,000. Institutional investors own 78.38% of the company's stock.

Titan Machinery Stock Up 2.2 %

Shares of NASDAQ:TITN traded up $0.30 during trading on Friday, hitting $13.99. 224,636 shares of the company were exchanged, compared to its average volume of 286,360. The stock has a market cap of $319.22 million, a price-to-earnings ratio of 3.36 and a beta of 1.26. Titan Machinery Inc. has a fifty-two week low of $12.30 and a fifty-two week high of $29.30. The firm has a fifty day moving average price of $14.42 and a two-hundred day moving average price of $18.13. The company has a current ratio of 1.27, a quick ratio of 0.13 and a debt-to-equity ratio of 0.18.

Titan Machinery (NASDAQ:TITN - Get Free Report) last issued its earnings results on Thursday, August 29th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.09). Titan Machinery had a return on equity of 10.38% and a net margin of 2.11%. The business had revenue of $633.70 million for the quarter, compared to the consensus estimate of $645.28 million. During the same quarter in the prior year, the firm posted $1.38 earnings per share. The business's revenue was down 1.4% compared to the same quarter last year. As a group, research analysts anticipate that Titan Machinery Inc. will post 0.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TITN has been the topic of a number of recent research reports. B. Riley dropped their target price on Titan Machinery from $20.00 to $15.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 3rd. Robert W. Baird dropped their target price on Titan Machinery from $18.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, August 15th. Northland Capmk lowered Titan Machinery from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 20th. Craig Hallum dropped their target price on Titan Machinery from $25.00 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, August 15th. Finally, Lake Street Capital lowered Titan Machinery from a "buy" rating to a "hold" rating and set a $15.00 price target on the stock. in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $21.00.

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.