Advisor Group Holdings Inc. cut its position in shares of Titan Machinery Inc. (NASDAQ:TITN) by 6.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,232 shares of the company’s stock after selling 1,105 shares during the quarter. Advisor Group Holdings Inc. owned about 0.07% of Titan Machinery worth $471,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in TITN. Lazard Asset Management LLC purchased a new position in shares of Titan Machinery in the first quarter valued at $81,000. BNP Paribas Arbitrage SA increased its holdings in shares of Titan Machinery by 79.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,070 shares of the company’s stock worth $231,000 after acquiring an additional 4,010 shares during the period. Millennium Management LLC acquired a new position in Titan Machinery during the 1st quarter valued at about $237,000. State of Tennessee Treasury Department boosted its position in shares of Titan Machinery by 45.2% during the 1st quarter. State of Tennessee Treasury Department now owns 10,040 shares of the company’s stock valued at $256,000 after purchasing an additional 3,124 shares in the last quarter. Finally, Algert Global LLC bought a new position in shares of Titan Machinery during the 1st quarter valued at about $290,000. Institutional investors own 78.89% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Titan Machinery from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective for the company in a research report on Wednesday, September 1st. Robert W. Baird raised their price objective on shares of Titan Machinery from $31.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, May 27th. Finally, Stephens upgraded shares of Titan Machinery from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $26.00 to $40.00 in a research report on Friday, May 28th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Titan Machinery presently has a consensus rating of “Buy” and an average price target of $33.25.
Titan Machinery (NASDAQ:TITN) last announced its earnings results on Wednesday, August 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.13. Titan Machinery had a net margin of 2.10% and a return on equity of 11.04%. The company had revenue of $377.60 million for the quarter, compared to the consensus estimate of $372.73 million. During the same period in the previous year, the business earned $0.29 EPS. The company’s revenue was up 24.4% on a year-over-year basis. Equities research analysts anticipate that Titan Machinery Inc. will post 2.1 earnings per share for the current year.
Titan Machinery Company Profile
Titan Machinery, Inc engages in the management of agricultural and construction equipment stores. It operates through the following segments: Agriculture, Construction and International. The Agriculture segment sells services and rents machinery and related parts and attachments, for uses from large-scale farming to home and garden use in North America.
Read More: How to execute a trade ex-dividend strategy?
Want to see what other hedge funds are holding TITN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Titan Machinery Inc. (NASDAQ:TITN).
Receive News & Ratings for Titan Machinery Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan Machinery and related companies with MarketBeat.com's FREE daily email newsletter.