Sei Investments Co. boosted its position in shares of Titan Machinery Inc. (NASDAQ:TITN – Free Report) by 4.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 337,234 shares of the company’s stock after acquiring an additional 14,277 shares during the period. Sei Investments Co.’s holdings in Titan Machinery were worth $4,765,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in Titan Machinery by 23.8% in the 4th quarter. US Bancorp DE now owns 3,861 shares of the company’s stock worth $55,000 after purchasing an additional 741 shares during the period. Empowered Funds LLC raised its stake in shares of Titan Machinery by 5.1% during the 4th quarter. Empowered Funds LLC now owns 20,000 shares of the company’s stock worth $283,000 after buying an additional 962 shares during the period. R Squared Ltd purchased a new position in shares of Titan Machinery during the 4th quarter valued at approximately $26,000. Janus Henderson Group PLC grew its stake in Titan Machinery by 6.8% in the 3rd quarter. Janus Henderson Group PLC now owns 39,262 shares of the company’s stock valued at $547,000 after acquiring an additional 2,496 shares during the period. Finally, FMR LLC increased its holdings in Titan Machinery by 142.5% in the 3rd quarter. FMR LLC now owns 5,262 shares of the company’s stock worth $73,000 after acquiring an additional 3,092 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.
Insider Buying and Selling
In related news, Chairman David Joseph Meyer acquired 3,000 shares of Titan Machinery stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average cost of $16.86 per share, for a total transaction of $50,580.00. Following the acquisition, the chairman now owns 138,388 shares in the company, valued at approximately $2,333,221.68. This represents a 2.22 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 10.28% of the stock is currently owned by company insiders.
Analyst Ratings Changes
TITN has been the topic of several research analyst reports. B. Riley started coverage on shares of Titan Machinery in a research report on Thursday, March 27th. They issued a “neutral” rating and a $19.00 target price on the stock. Robert W. Baird cut their price objective on Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Finally, Baird R W upgraded Titan Machinery from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Titan Machinery has a consensus rating of “Hold” and an average price target of $19.80.
Read Our Latest Stock Analysis on TITN
Titan Machinery Stock Performance
Titan Machinery stock opened at $16.96 on Wednesday. The stock has a market cap of $392.22 million, a price-to-earnings ratio of 12.66 and a beta of 1.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15. The firm has a 50 day simple moving average of $17.06 and a 200-day simple moving average of $15.33. Titan Machinery Inc. has a 1-year low of $12.30 and a 1-year high of $24.31.
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.
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