EAM Investors LLC acquired a new stake in shares of Titan Machinery Inc. (NASDAQ:TITN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 107,658 shares of the company’s stock, valued at approximately $2,279,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Teachers Advisors LLC raised its position in shares of Titan Machinery by 27.0% during the 2nd quarter. Teachers Advisors LLC now owns 44,686 shares of the company’s stock worth $803,000 after purchasing an additional 9,491 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Titan Machinery by 17.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 117,045 shares of the company’s stock worth $2,104,000 after purchasing an additional 17,298 shares during the period. Ameriprise Financial Inc. acquired a new stake in shares of Titan Machinery during the 2nd quarter worth approximately $590,000. New York State Common Retirement Fund increased its position in Titan Machinery by 34.2% in the 2nd quarter. New York State Common Retirement Fund now owns 21,200 shares of the company’s stock valued at $381,000 after acquiring an additional 5,399 shares during the period. Finally, Northern Trust Corp increased its position in Titan Machinery by 8.1% in the 2nd quarter. Northern Trust Corp now owns 222,290 shares of the company’s stock valued at $3,997,000 after acquiring an additional 16,679 shares during the period. Hedge funds and other institutional investors own 76.33% of the company’s stock.
Shares of Titan Machinery Inc. (NASDAQ TITN) opened at $19.94 on Thursday. Titan Machinery Inc. has a 1 year low of $11.68 and a 1 year high of $24.19. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.70 and a quick ratio of 0.33.
Several analysts recently commented on the company. BidaskClub cut Titan Machinery from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 18th. Zacks Investment Research upgraded Titan Machinery from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Wednesday, December 6th. Piper Jaffray Companies set a $19.00 target price on Titan Machinery and gave the company a “hold” rating in a research report on Friday, December 1st. William Blair upgraded Titan Machinery from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 2nd. Finally, Robert W. Baird restated an “outperform” rating and issued a $25.00 target price (up from $18.00) on shares of Titan Machinery in a research report on Friday, December 1st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Titan Machinery has an average rating of “Hold” and an average price target of $23.00.
In other Titan Machinery news, CEO David Joseph Meyer sold 61,796 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $21.85, for a total transaction of $1,350,242.60. Following the completion of the transaction, the chief executive officer now directly owns 715,864 shares of the company’s stock, valued at approximately $15,641,628.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 16.08% of the company’s stock.
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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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