Titan Machinery Inc. (TITN) Holdings Reduced by Rutabaga Capital Management LLC MA

Rutabaga Capital Management LLC MA cut its position in Titan Machinery Inc. (NASDAQ:TITN) by 9.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 668,888 shares of the company’s stock after selling 71,450 shares during the period. Titan Machinery accounts for about 2.2% of Rutabaga Capital Management LLC MA’s investment portfolio, making the stock its 18th biggest position. Rutabaga Capital Management LLC MA owned 3.13% of Titan Machinery worth $12,027,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its position in Titan Machinery by 2.6% in the second quarter. Rhumbline Advisers now owns 21,909 shares of the company’s stock valued at $394,000 after buying an additional 545 shares in the last quarter. American International Group Inc. boosted its position in Titan Machinery by 7.2% in the first quarter. American International Group Inc. now owns 10,919 shares of the company’s stock valued at $167,000 after buying an additional 729 shares in the last quarter. Voya Investment Management LLC boosted its position in Titan Machinery by 14.2% in the second quarter. Voya Investment Management LLC now owns 11,520 shares of the company’s stock valued at $207,000 after buying an additional 1,429 shares in the last quarter. Teachers Advisors LLC boosted its position in Titan Machinery by 6.9% in the fourth quarter. Teachers Advisors LLC now owns 31,879 shares of the company’s stock valued at $464,000 after buying an additional 2,050 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Titan Machinery by 14.1% in the second quarter. The Manufacturers Life Insurance Company now owns 16,622 shares of the company’s stock valued at $298,000 after buying an additional 2,054 shares in the last quarter. Hedge funds and other institutional investors own 76.78% of the company’s stock.

Shares of Titan Machinery Inc. (NASDAQ TITN) traded up 0.033% during trading on Friday, hitting $15.275. 53,750 shares of the stock were exchanged. The firm’s market capitalization is $329.10 million. The firm has a 50 day moving average price of $14.75 and a 200 day moving average price of $16.19. Titan Machinery Inc. has a 52 week low of $8.68 and a 52 week high of $19.22.

Titan Machinery (NASDAQ:TITN) last posted its quarterly earnings results on Thursday, August 31st. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). Titan Machinery had a negative net margin of 1.61% and a negative return on equity of 3.69%. The company had revenue of $268.87 million during the quarter, compared to analyst estimates of $260.08 million. During the same quarter in the previous year, the business posted ($0.12) earnings per share. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. Analysts forecast that Titan Machinery Inc. will post ($0.22) EPS for the current fiscal year.

In related news, Director Stan K. Erickson purchased 8,302 shares of Titan Machinery stock in a transaction dated Wednesday, September 6th. The shares were bought at an average cost of $12.50 per share, for a total transaction of $103,775.00. Following the purchase, the director now owns 13,495 shares in the company, valued at approximately $168,687.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 16.08% of the company’s stock.

TITN has been the topic of a number of recent analyst reports. Robert W. Baird set a $18.00 price target on shares of Titan Machinery and gave the company a “buy” rating in a research report on Thursday, August 24th. Piper Jaffray Companies restated a “hold” rating on shares of Titan Machinery in a research report on Thursday, September 28th. BidaskClub lowered shares of Titan Machinery from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research lowered shares of Titan Machinery from a “hold” rating to a “sell” rating in a research report on Thursday, September 7th. Finally, ValuEngine lowered shares of Titan Machinery from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $18.00.

TRADEMARK VIOLATION NOTICE: This article was first reported by Ticker Report and is owned by of Ticker Report. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international copyright law. The legal version of this article can be read at https://www.tickerreport.com/banking-finance/2957780/titan-machinery-inc-titn-holdings-reduced-by-rutabaga-capital-management-llc-ma.html.

Titan Machinery 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.

Institutional Ownership by Quarter for Titan Machinery (NASDAQ:TITN)

Receive News & Ratings for Titan Machinery Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan Machinery Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.