California State Teachers Retirement System raised its position in Titan Machinery Inc. (NASDAQ:TITN) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 37,162 shares of the company’s stock after buying an additional 426 shares during the period. California State Teachers Retirement System owned about 0.18% of Titan Machinery worth $414,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Titan Machinery by 67.4% in the first quarter. JPMorgan Chase & Co. now owns 417,921 shares of the company’s stock worth $4,831,000 after buying an additional 168,196 shares in the last quarter. Bank of Montreal Can purchased a new position in Titan Machinery during the second quarter worth approximately $582,000. Acadian Asset Management LLC boosted its position in Titan Machinery by 11.7% in the second quarter. Acadian Asset Management LLC now owns 404,574 shares of the company’s stock worth $4,511,000 after buying an additional 42,396 shares in the last quarter. Aristotle Capital Boston LLC boosted its position in Titan Machinery by 9.2% in the first quarter. Aristotle Capital Boston LLC now owns 106,922 shares of the company’s stock worth $1,236,000 after buying an additional 8,981 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Titan Machinery by 12.5% in the first quarter. Goldman Sachs Group Inc. now owns 68,394 shares of the company’s stock worth $790,000 after buying an additional 7,578 shares in the last quarter. Hedge funds and other institutional investors own 86.29% of the company’s stock.
Titan Machinery Inc. (NASDAQ:TITN) traded down 2.880% during midday trading on Thursday, reaching $9.275. 50,536 shares of the company’s stock traded hands. The company’s market capitalization is $196.67 million. The firm’s 50-day moving average is $10.68 and its 200-day moving average is $11.21. Titan Machinery Inc. has a 1-year low of $7.87 and a 1-year high of $13.44.
Titan Machinery (NASDAQ:TITN) last issued its earnings results on Thursday, August 25th. The company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.06. The business earned $278.30 million during the quarter, compared to analyst estimates of $291.62 million. Titan Machinery had a negative net margin of 3.04% and a negative return on equity of 9.03%. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. Analysts forecast that Titan Machinery Inc. will post ($0.45) earnings per share for the current year.
Separately, Zacks Investment Research raised shares of Titan Machinery from a “sell” rating to a “hold” rating in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Titan Machinery has an average rating of “Hold” and an average price target of $12.75.
Titan Machinery Company Profile
Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services, and equipment rental and other activities.
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