William Blair Investment Management LLC Sells 74,931 Shares of Titan Machinery Inc. $TITN

William Blair Investment Management LLC lessened its position in shares of Titan Machinery Inc. (NASDAQ:TITN) by 9.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 695,104 shares of the company’s stock after selling 74,931 shares during the period. William Blair Investment Management LLC’s holdings in Titan Machinery were worth $10,454,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Quarry LP increased its stake in shares of Titan Machinery by 189.8% in the 3rd quarter. Quarry LP now owns 1,536 shares of the company’s stock valued at $26,000 after acquiring an additional 1,006 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Titan Machinery by 352.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company’s stock valued at $52,000 after buying an additional 2,043 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Titan Machinery by 94.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,032 shares of the company’s stock worth $67,000 after buying an additional 1,957 shares during the period. SG Americas Securities LLC bought a new position in Titan Machinery in the fourth quarter worth approximately $101,000. Finally, PNC Financial Services Group Inc. grew its stake in Titan Machinery by 14.6% in the third quarter. PNC Financial Services Group Inc. now owns 8,341 shares of the company’s stock valued at $140,000 after acquiring an additional 1,063 shares during the period. 78.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TITN has been the topic of a number of research reports. Wall Street Zen lowered Titan Machinery from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Robert W. Baird cut their price objective on shares of Titan Machinery from $21.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 20th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $17.00.

Titan Machinery Stock Performance

Shares of TITN stock opened at $19.98 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.24 and a current ratio of 1.41. The firm has a market cap of $465.71 million, a price-to-earnings ratio of -8.39 and a beta of 1.38. Titan Machinery Inc. has a 52 week low of $13.21 and a 52 week high of $21.91. The firm’s 50-day simple moving average is $18.87 and its two-hundred day simple moving average is $17.68.

Titan Machinery (NASDAQ:TITN) last released its earnings results on Thursday, March 19th. The company reported ($1.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.44). Titan Machinery had a negative net margin of 2.23% and a negative return on equity of 8.40%. The company had revenue of $641.83 million for the quarter, compared to the consensus estimate of $615.53 million. As a group, equities analysts forecast that Titan Machinery Inc. will post -1.73 earnings per share for the current year.

Titan Machinery Profile

Titan Machinery, Inc is a leading full-service dealer specializing in the sale, rental, and servicing of agricultural and construction equipment. The company represents major brands such as Caterpillar, Case IH and New Holland, offering new and pre-owned tractors, combines, excavators, loaders and other heavy machinery. In addition to equipment sales, Titan provides parts distribution, preventative maintenance and field service support to help customers maximize uptime and productivity.

Beyond equipment transactions, Titan Machinery offers a comprehensive suite of support services.