Titan Machinery Inc. (TITN) Stake Lessened by Macquarie Group Ltd.

Macquarie Group Ltd. decreased its holdings in shares of Titan Machinery Inc. (NASDAQ:TITN) by 16.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 35,977 shares of the company’s stock after selling 7,100 shares during the period. Macquarie Group Ltd.’s holdings in Titan Machinery were worth $762,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Jane Street Group LLC purchased a new position in shares of Titan Machinery during the 4th quarter valued at approximately $251,000. Millennium Management LLC lifted its position in shares of Titan Machinery by 2,466.1% during the 4th quarter. Millennium Management LLC now owns 269,570 shares of the company’s stock valued at $5,707,000 after buying an additional 259,065 shares in the last quarter. Cornerstone Capital Management Holdings LLC. lifted its position in shares of Titan Machinery by 15.5% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 115,204 shares of the company’s stock valued at $2,438,000 after buying an additional 15,500 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Titan Machinery by 258.3% during the 4th quarter. Two Sigma Investments LP now owns 216,489 shares of the company’s stock valued at $4,583,000 after buying an additional 156,062 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Titan Machinery by 49.9% during the 4th quarter. Two Sigma Advisers LP now owns 187,798 shares of the company’s stock valued at $3,976,000 after buying an additional 62,500 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

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Shares of TITN stock opened at $21.00 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.33 and a current ratio of 1.70. The firm has a market capitalization of $463.99, a price-to-earnings ratio of -175.00 and a beta of 1.45. Titan Machinery Inc. has a fifty-two week low of $11.68 and a fifty-two week high of $25.09.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings data on Thursday, March 29th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $339.61 million for the quarter, compared to analyst estimates of $315.08 million. Titan Machinery had a negative return on equity of 0.89% and a negative net margin of 0.59%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.31) EPS. sell-side analysts expect that Titan Machinery Inc. will post 0.55 EPS for the current year.

TITN has been the topic of a number of recent analyst reports. BidaskClub lowered Titan Machinery from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 18th. Robert W. Baird set a $26.00 target price on Titan Machinery and gave the company a “buy” rating in a research report on Thursday, March 29th. Craig Hallum reiterated a “buy” rating and set a $26.00 target price on shares of Titan Machinery in a research report on Thursday, March 29th. Zacks Investment Research lowered Titan Machinery from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Finally, William Blair reiterated a “hold” rating on shares of Titan Machinery in a research report on Wednesday, April 4th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Titan Machinery has an average rating of “Hold” and an average price target of $24.00.

In other Titan Machinery news, COO Bryan J. Knutson sold 2,374 shares of the firm’s stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $23.91, for a total value of $56,762.34. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 16.08% of the company’s stock.

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About Titan Machinery

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States and Europe. It operates through three segments: Agriculture, Construction, and International. The company sells new and used equipment comprising agricultural and construction equipment manufactured under the CNH family of brands, as well as equipment from various other manufacturers.

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

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