Ingalls & Snyder LLC reduced its position in Titan Machinery Inc. (NASDAQ:TITN) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,665 shares of the company’s stock after selling 243 shares during the period. Ingalls & Snyder LLC’s holdings in Titan Machinery were worth $192,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. Eagle Global Advisors LLC raised its position in shares of Titan Machinery by 24.3% in the second quarter. Eagle Global Advisors LLC now owns 28,805 shares of the company’s stock worth $518,000 after buying an additional 5,630 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in Titan Machinery during the second quarter valued at approximately $931,000. Strs Ohio raised its stake in Titan Machinery by 20.3% in the second quarter. Strs Ohio now owns 33,200 shares of the company’s stock valued at $596,000 after buying an additional 5,600 shares during the last quarter. Acadian Asset Management LLC raised its stake in Titan Machinery by 16.8% in the second quarter. Acadian Asset Management LLC now owns 404,349 shares of the company’s stock valued at $7,270,000 after buying an additional 58,232 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Titan Machinery by 4.8% in the first quarter. Goldman Sachs Group Inc. now owns 71,486 shares of the company’s stock valued at $1,096,000 after buying an additional 3,244 shares during the last quarter. 80.15% of the stock is owned by institutional investors and hedge funds.
Titan Machinery Inc. (TITN) traded up 2.04% during midday trading on Friday, reaching $16.53. 69,889 shares of the company traded hands. The firm has a 50-day moving average of $17.49 and a 200-day moving average of $15.90. The stock’s market capitalization is $353.28 million. Titan Machinery Inc. has a 1-year low of $8.68 and a 1-year high of $19.22.
Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings results on Thursday, May 25th. The company reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. Titan Machinery had a negative return on equity of 4.11% and a negative net margin of 1.37%. The firm had revenue of $264.10 million for the quarter, compared to analysts’ expectations of $257 million. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, analysts predict that Titan Machinery Inc. will post $0.03 earnings per share for the current year.
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Several equities research analysts have recently commented on the stock. Piper Jaffray Companies set a $18.00 price target on shares of Titan Machinery and gave the company a “hold” rating in a research report on Friday, August 4th. BidaskClub lowered shares of Titan Machinery from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Zacks Investment Research raised shares of Titan Machinery from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Friday, June 30th. Finally, ValuEngine raised shares of Titan Machinery from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Titan Machinery presently has an average rating of “Hold” and a consensus price target of $18.67.
In related news, Chairman David Joseph Meyer sold 44,950 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $17.25, for a total transaction of $775,387.50. Following the completion of the sale, the chairman now directly owns 724,660 shares in the company, valued at $12,500,385. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.08% of the stock is currently owned by insiders.
Titan Machinery Company Profile
Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services, and equipment rental and other activities.
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