SummerHaven Investment Management LLC Boosts Stake in Titan Machinery Inc. (NASDAQ:TITN)

SummerHaven Investment Management LLC lifted its holdings in shares of Titan Machinery Inc. (NASDAQ:TITN) by 3.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,475 shares of the company’s stock after purchasing an additional 818 shares during the quarter. SummerHaven Investment Management LLC owned about 0.11% of Titan Machinery worth $389,000 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 modified their holdings of TITN. Jump Financial LLC acquired a new stake in Titan Machinery in the 4th quarter valued at approximately $1,620,000. Cetera Advisors LLC purchased a new stake in shares of Titan Machinery in the 1st quarter valued at $1,095,000. First Eagle Investment Management LLC lifted its stake in Titan Machinery by 22.0% during the 1st quarter. First Eagle Investment Management LLC now owns 240,261 shares of the company’s stock worth $5,961,000 after acquiring an additional 43,400 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Titan Machinery by 9.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 327,011 shares of the company’s stock valued at $9,444,000 after acquiring an additional 28,719 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Titan Machinery by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,783,274 shares of the company’s stock valued at $51,501,000 after acquiring an additional 22,176 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TITN has been the subject of several recent research reports. Craig Hallum decreased their price target on shares of Titan Machinery from $25.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Lake Street Capital downgraded Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a report on Thursday, August 15th. Northland Securities downgraded Titan Machinery from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $33.00 to $15.00 in a research report on Tuesday. Robert W. Baird decreased their price target on shares of Titan Machinery from $18.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Finally, StockNews.com cut shares of Titan Machinery from a “hold” rating to a “sell” rating in a report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Titan Machinery currently has an average rating of “Hold” and an average target price of $20.17.

Titan Machinery Trading Up 4.0 %

TITN stock traded up $0.55 during trading on Friday, reaching $14.36. 67,233 shares of the stock traded hands, compared to its average volume of 226,784. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.29 and a quick ratio of 0.15. Titan Machinery Inc. has a 52-week low of $12.30 and a 52-week high of $34.99. The firm has a market capitalization of $327.70 million, a PE ratio of 3.41 and a beta of 1.31. The business’s 50 day moving average price is $15.89 and its 200-day moving average price is $20.79.

Titan Machinery (NASDAQ:TITN) last announced its earnings results on Thursday, May 23rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.26). The company had revenue of $628.70 million for the quarter, compared to analysts’ expectations of $664.18 million. Titan Machinery had a net margin of 3.37% and a return on equity of 14.93%. As a group, sell-side analysts forecast that Titan Machinery Inc. will post 0.25 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director David Joseph Meyer acquired 55,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was bought at an average cost of $18.12 per share, with a total value of $996,600.00. Following the acquisition, the director now directly owns 1,805,000 shares in the company, valued at $32,706,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.28% of the stock is owned by company insiders.

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.