Titan Machinery Inc. (TITN) Shares Bought by Rhumbline Advisers
Rhumbline Advisers lifted its stake in Titan Machinery Inc. (NASDAQ:TITN) by 2.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,909 shares of the company’s stock after buying an additional 545 shares during the quarter. Rhumbline Advisers owned approximately 0.10% of Titan Machinery worth $394,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in TITN. American International Group Inc. lifted its holdings in shares of Titan Machinery by 7.2% in the first quarter. American International Group Inc. now owns 10,919 shares of the company’s stock worth $167,000 after buying an additional 729 shares in the last quarter. Oxford Asset Management purchased a new position in shares of Titan Machinery in the first quarter worth $168,000. Sei Investments Co. lifted its holdings in shares of Titan Machinery by 195.0% in the first quarter. Sei Investments Co. now owns 16,746 shares of the company’s stock worth $257,000 after buying an additional 11,070 shares in the last quarter. Teachers Advisors LLC lifted its holdings in shares of Titan Machinery by 6.9% in the fourth quarter. Teachers Advisors LLC now owns 31,879 shares of the company’s stock worth $464,000 after buying an additional 2,050 shares in the last quarter. Finally, Eagle Global Advisors LLC lifted its holdings in shares of Titan Machinery by 24.3% in the second quarter. Eagle Global Advisors LLC now owns 28,805 shares of the company’s stock worth $518,000 after buying an additional 5,630 shares in the last quarter. 76.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Titan Machinery Inc. (NASDAQ TITN) opened at 15.72 on Friday. The company’s market cap is $338.69 million. The company has a 50-day moving average of $14.81 and a 200 day moving average of $16.13. Titan Machinery Inc. has a 12 month low of $8.68 and a 12 month high of $19.22.
Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings data 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). The firm had revenue of $268.87 million during the quarter, compared to analysts’ expectations of $260.08 million. Titan Machinery had a negative net margin of 1.61% and a negative return on equity of 3.69%. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.12) EPS. On average, analysts anticipate that Titan Machinery Inc. will post ($0.22) earnings per share for the current year.
In other news, Director Stan K. Erickson acquired 8,302 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were bought at an average price of $12.50 per share, for a total transaction of $103,775.00. Following the acquisition, the director now owns 13,495 shares of the company’s stock, valued at approximately $168,687.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 16.08% of the company’s stock.
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TITN has been the topic of several research analyst reports. Robert W. Baird set a $18.00 target price on shares of Titan Machinery and gave the stock a “buy” rating in a report on Thursday, August 24th. BidaskClub downgraded shares of Titan Machinery from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Piper Jaffray Companies reissued a “hold” rating on shares of Titan Machinery in a report on Thursday, September 28th. Zacks Investment Research downgraded shares of Titan Machinery from a “hold” rating to a “sell” rating in a report on Thursday, September 7th. Finally, ValuEngine downgraded shares of Titan Machinery from a “hold” rating to a “sell” rating in a 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 company. Titan Machinery presently has an average rating of “Hold” and an average target price of $18.00.
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.
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