David Joseph Meyer Acquires 22,524 Shares of Titan Machinery Inc. (NASDAQ:TITN) Stock

Titan Machinery Inc. (NASDAQ:TITN) Chairman David Joseph Meyer bought 22,524 shares of the business’s stock in a transaction on Friday, March 21st. The stock was purchased at an average cost of $16.83 per share, with a total value of $379,078.92. Following the purchase, the chairman now owns 135,388 shares of the company’s stock, valued at $2,278,580.04. This represents a 19.96 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

David Joseph Meyer also recently made the following trade(s):

• On Monday, March 24th, David Joseph Meyer acquired 3,000 shares of Titan Machinery stock. The stock was acquired at an average price of $16.86 per share, with a total value of $50,580.00.

Titan Machinery Stock Down 0.4 %

Shares of NASDAQ:TITN opened at $17.90 on Thursday. The company has a market cap of $413.96 million, a PE ratio of 13.36 and a beta of 1.28. Titan Machinery Inc. has a 1 year low of $12.30 and a 1 year high of $24.89. The stock’s 50-day moving average is $16.89 and its 200 day moving average is $15.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15.

Wall Street Analyst Weigh In

TITN has been the subject of several analyst reports. Baird R W upgraded shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 27th. Robert W. Baird decreased their price target on Titan Machinery from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.00.

Institutional Trading of Titan Machinery

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TITN. Voss Capital LP increased its position in Titan Machinery by 141.7% during the 4th quarter. Voss Capital LP now owns 684,459 shares of the company’s stock valued at $9,671,000 after purchasing an additional 401,302 shares during the period. First Eagle Investment Management LLC lifted its holdings in Titan Machinery by 42.4% in the fourth quarter. First Eagle Investment Management LLC now owns 634,509 shares of the company’s stock worth $8,966,000 after buying an additional 188,998 shares during the period. CenterBook Partners LP bought a new stake in Titan Machinery during the 4th quarter valued at approximately $1,438,000. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Titan Machinery by 16.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 583,830 shares of the company’s stock worth $8,133,000 after acquiring an additional 84,330 shares during the period. Finally, ArrowMark Colorado Holdings LLC raised its position in shares of Titan Machinery by 28.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 341,832 shares of the company’s stock worth $4,762,000 after acquiring an additional 75,710 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

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.