Titan Machinery Inc. (NASDAQ:TITN) Chairman Acquires $50,580.00 in Stock

Titan Machinery Inc. (NASDAQ:TITN) Chairman David Joseph Meyer purchased 3,000 shares of Titan Machinery stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the transaction, the chairman now owns 138,388 shares in the company, valued at $2,333,221.68. The trade was a 2.22 % 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 Friday, March 21st, David Joseph Meyer acquired 22,524 shares of Titan Machinery stock. The shares were bought at an average cost of $16.83 per share, with a total value of $379,078.92.

Titan Machinery Stock Up 0.9 %

TITN stock opened at $18.07 on Friday. Titan Machinery Inc. has a fifty-two week low of $12.30 and a fifty-two week high of $24.89. The company has a market capitalization of $417.89 million, a price-to-earnings ratio of 13.49 and a beta of 1.28. The business’s 50 day moving average price is $16.95 and its two-hundred day moving average price is $15.22. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32.

Institutional Investors Weigh In On Titan Machinery

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TITN. Truvestments Capital LLC purchased a new position in Titan Machinery during the third quarter valued at $41,000. FMR LLC lifted its position in Titan Machinery by 142.5% during the 3rd quarter. FMR LLC now owns 5,262 shares of the company’s stock valued at $73,000 after acquiring an additional 3,092 shares during the period. BNP Paribas Financial Markets boosted its stake in Titan Machinery by 21.2% during the third quarter. BNP Paribas Financial Markets now owns 78,510 shares of the company’s stock worth $1,094,000 after acquiring an additional 13,757 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Titan Machinery in the third quarter worth about $229,000. Finally, ArrowMark Colorado Holdings LLC increased its stake in shares of Titan Machinery by 28.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 341,832 shares of the company’s stock valued at $4,762,000 after purchasing an additional 75,710 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. B. Riley began coverage on shares of Titan Machinery in a report on Thursday. They set a “neutral” rating and a $19.00 price target for the company. Robert W. Baird dropped 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. 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 issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Titan Machinery has an average rating of “Hold” and a consensus price target of $19.80.

Titan Machinery Company 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.