Truvestments Capital LLC Reduces Stock Position in Titan Machinery Inc. (NASDAQ:TITN)

Truvestments Capital LLC reduced its holdings in shares of Titan Machinery Inc. (NASDAQ:TITN) by 63.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,747 shares of the company’s stock after selling 6,619 shares during the quarter. Truvestments Capital LLC’s holdings in Titan Machinery were worth $93,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. SummerHaven Investment Management LLC lifted its stake in shares of Titan Machinery by 1.7% during the 4th quarter. SummerHaven Investment Management LLC now owns 23,303 shares of the company’s stock valued at $673,000 after buying an additional 391 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Titan Machinery by 13.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 11,583 shares of the company’s stock valued at $335,000 after buying an additional 1,379 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in Titan Machinery by 18.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 12,347 shares of the company’s stock worth $306,000 after purchasing an additional 1,920 shares in the last quarter. MBM Wealth Consultants LLC lifted its stake in Titan Machinery by 12.2% in the 1st quarter. MBM Wealth Consultants LLC now owns 18,737 shares of the company’s stock worth $465,000 after purchasing an additional 2,038 shares in the last quarter. Finally, Quent Capital LLC purchased a new stake in Titan Machinery in the 4th quarter worth approximately $87,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on TITN. Robert W. Baird lowered their target price on shares of Titan Machinery from $24.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. StockNews.com cut shares of Titan Machinery from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. B. Riley cut shares of Titan Machinery from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $32.00 to $20.00 in a research note on Wednesday, June 5th. Finally, Craig Hallum lowered their target price on shares of Titan Machinery from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.25.

Insider Activity at Titan Machinery

In other Titan Machinery news, Director David Joseph Meyer bought 55,000 shares of Titan Machinery stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average price of $18.12 per share, with a total value of $996,600.00. Following the acquisition, the director now owns 1,805,000 shares in the company, valued at $32,706,600. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.28% of the stock is owned by insiders.

Titan Machinery Price Performance

Shares of NASDAQ:TITN traded up $0.19 during trading on Friday, reaching $17.89. The company had a trading volume of 181,824 shares, compared to its average volume of 255,405. The company has a fifty day moving average of $17.23 and a two-hundred day moving average of $22.24. The stock has a market capitalization of $408.21 million, a P/E ratio of 4.30 and a beta of 1.32. Titan Machinery Inc. has a 12 month low of $14.72 and a 12 month high of $34.99. The company has a current ratio of 1.29, a quick ratio of 0.15 and a debt-to-equity ratio of 0.16.

Titan Machinery (NASDAQ:TITN) last released its earnings results on Thursday, May 23rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.26). Titan Machinery had a net margin of 3.37% and a return on equity of 14.93%. The business had revenue of $628.70 million for the quarter, compared to the consensus estimate of $664.18 million. Equities research analysts forecast that Titan Machinery Inc. will post 2.22 earnings per share for the current year.

Titan Machinery Profile

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