Millennium Management LLC lifted its position in shares of Titan Machinery Inc. (NASDAQ:TITN) by 2,466.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 269,570 shares of the company’s stock after purchasing an additional 259,065 shares during the period. Millennium Management LLC’s holdings in Titan Machinery were worth $5,707,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new stake in Titan Machinery in the third quarter worth about $155,000. Virtu Financial LLC purchased a new stake in Titan Machinery in the fourth quarter worth about $211,000. Wedge Capital Management L L P NC purchased a new stake in Titan Machinery in the fourth quarter worth about $257,000. Bailard Inc. purchased a new stake in Titan Machinery in the fourth quarter worth about $404,000. Finally, Granite Point Capital Management L.P. purchased a new stake in Titan Machinery in the fourth quarter worth about $529,000. Institutional investors own 78.72% of the company’s stock.

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In other Titan Machinery news, COO Bryan J. Knutson sold 2,374 shares of the firm’s stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $23.91, for a total transaction of $56,762.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 16.08% of the stock is currently owned by company insiders.

Several brokerages have commented on TITN. William Blair upgraded shares of Titan Machinery from an “underperform” rating to a “market perform” rating in a report on Tuesday, January 2nd. BidaskClub lowered shares of Titan Machinery from a “buy” rating to a “hold” rating in a report on Tuesday, April 10th. Robert W. Baird set a $26.00 price objective on shares of Titan Machinery and gave the stock a “buy” rating in a report on Thursday, March 29th. Craig Hallum restated a “buy” rating and issued a $26.00 price objective on shares of Titan Machinery in a report on Thursday, March 29th. Finally, Zacks Investment Research lowered shares of Titan Machinery from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Titan Machinery presently has an average rating of “Hold” and an average target price of $24.00.

Shares of NASDAQ TITN opened at $21.63 on Tuesday. Titan Machinery Inc. has a fifty-two week low of $11.68 and a fifty-two week high of $25.09. The company has a market cap of $470.77, a price-to-earnings ratio of -180.25 and a beta of 1.44. The company has a quick ratio of 0.39, a current ratio of 1.83 and a debt-to-equity ratio of 0.30.

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

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Titan Machinery Company Profile

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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