CenterBook Partners LP Invests $1.44 Million in Titan Machinery Inc. (NASDAQ:TITN)

CenterBook Partners LP bought a new stake in Titan Machinery Inc. (NASDAQ:TITN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 101,756 shares of the company’s stock, valued at approximately $1,438,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC grew its position in Titan Machinery by 287.0% during the third quarter. Barclays PLC now owns 31,872 shares of the company’s stock valued at $444,000 after buying an additional 23,637 shares during the period. Sanctuary Advisors LLC boosted its holdings in Titan Machinery by 53.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 25,550 shares of the company’s stock worth $387,000 after buying an additional 8,942 shares during the period. FMR LLC boosted its stake in shares of Titan Machinery by 142.5% in the third quarter. FMR LLC now owns 5,262 shares of the company’s stock worth $73,000 after acquiring an additional 3,092 shares during the period. PNC Financial Services Group Inc. raised its stake in Titan Machinery by 91.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,611 shares of the company’s stock valued at $122,000 after purchasing an additional 4,103 shares during the period. Finally, Empowered Funds LLC lifted its holdings in Titan Machinery by 5.1% in the 4th quarter. Empowered Funds LLC now owns 20,000 shares of the company’s stock worth $283,000 after purchasing an additional 962 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Titan Machinery Stock Performance

Shares of NASDAQ TITN opened at $15.60 on Friday. The company’s fifty day moving average price is $16.67 and its 200 day moving average price is $15.40. The company has a market capitalization of $360.77 million, a PE ratio of 11.64 and a beta of 1.27. Titan Machinery Inc. has a 1 year low of $12.30 and a 1 year high of $24.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32.

Insider Buying and Selling

In other Titan Machinery news, Chairman David Joseph Meyer acquired 22,524 shares of the business’s stock in a transaction that occurred 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 transaction, the chairman now owns 135,388 shares of the company’s stock, valued at $2,278,580.04. This trade represents a 19.96 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders have bought 26,182 shares of company stock worth $439,661. Insiders own 10.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TITN shares. Baird R W raised shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a report on Monday, January 27th. B. Riley began coverage on shares of Titan Machinery in a research note on Thursday, March 27th. They issued a “neutral” rating and a $19.00 price target on the stock. Finally, Robert W. Baird cut their target price on shares of Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.80.

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.