Algert Global LLC Sells 42,028 Shares of Titan Machinery Inc. (NASDAQ:TITN)

Algert Global LLC cut its stake in shares of Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 58.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,927 shares of the company's stock after selling 42,028 shares during the period. Algert Global LLC owned 0.13% of Titan Machinery worth $476,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in Titan Machinery during the second quarter valued at approximately $36,000. Canada Pension Plan Investment Board acquired a new position in Titan Machinery during the second quarter valued at approximately $37,000. nVerses Capital LLC lifted its position in shares of Titan Machinery by 118.2% in the second 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. State Board of Administration of Florida Retirement System acquired a new stake in shares of Titan Machinery in the first quarter valued at approximately $276,000. Finally, Waterfront Wealth Inc. acquired a new stake in shares of Titan Machinery in the second quarter valued at approximately $177,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Titan Machinery Price Performance

Shares of TITN stock traded down $0.30 during trading on Tuesday, hitting $13.69. The company had a trading volume of 178,454 shares, compared to its average volume of 235,883. The stock's 50-day moving average price is $14.26 and its 200 day moving average price is $17.92. Titan Machinery Inc. has a one year low of $12.30 and a one year high of $29.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.13 and a current ratio of 1.27. The firm has a market capitalization of $312.38 million, a P/E ratio of 3.29 and a beta of 1.26.

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

Wall Street Analysts Forecast Growth

TITN has been the subject of a number of recent analyst reports. Northland Capmk cut Titan Machinery from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 20th. Craig Hallum cut their price objective on Titan Machinery from $25.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. Robert W. Baird cut their price objective on Titan Machinery from $18.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, August 15th. Northland Securities reaffirmed a "market perform" rating and issued a $25.00 price objective on shares of Titan Machinery in a research report on Friday, September 13th. Finally, Lake Street Capital cut Titan Machinery from a "buy" rating to a "hold" rating and set a $15.00 price target for the company. in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $21.00.

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.