Systematic Financial Management LP boosted its position in Titan Machinery Inc. (NASDAQ:TITN) by 19.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 840,091 shares of the company’s stock after purchasing an additional 136,056 shares during the period. Systematic Financial Management LP’s holdings in Titan Machinery were worth $19,793,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC purchased a new stake in Titan Machinery in the 4th quarter worth approximately $197,000. Virtu Financial LLC purchased a new stake in shares of Titan Machinery during the 4th quarter valued at $211,000. Jane Street Group LLC purchased a new stake in shares of Titan Machinery during the 4th quarter valued at $251,000. Wedge Capital Management L L P NC purchased a new stake in shares of Titan Machinery during the 4th quarter valued at $257,000. Finally, Global X Management Co. LLC grew its stake in shares of Titan Machinery by 137.3% during the 1st quarter. Global X Management Co. LLC now owns 13,415 shares of the company’s stock valued at $316,000 after buying an additional 7,761 shares during the period. 83.74% of the stock is owned by hedge funds and other institutional investors.
Shares of Titan Machinery opened at $20.15 on Monday, according to MarketBeat.com. Titan Machinery Inc. has a 52-week low of $11.68 and a 52-week high of $25.09. The firm has a market cap of $444.91 million, a PE ratio of -167.92 and a beta of 1.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.83 and a quick ratio of 0.39.
Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings data on Thursday, March 29th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $339.61 million during the quarter, compared to analysts’ expectations of $315.08 million. During the same period in the previous year, the company earned ($0.31) EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. sell-side analysts expect that Titan Machinery Inc. will post 0.32 EPS for the current fiscal year.
TITN has been the subject of several research reports. BidaskClub cut shares of Titan Machinery from a “buy” rating to a “hold” rating in a research note on Tuesday, April 10th. Zacks Investment Research cut shares of Titan Machinery from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Robert W. Baird set a $26.00 price objective on shares of Titan Machinery and gave the company a “buy” rating in a research note on Thursday, March 29th. William Blair reissued a “hold” rating on shares of Titan Machinery in a research note on Wednesday, April 4th. Finally, ValuEngine raised shares of Titan Machinery from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Titan Machinery presently has a consensus rating of “Hold” and a consensus target price of $24.00.
In related news, COO Bryan J. Knutson sold 2,374 shares of Titan Machinery stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $23.91, for a total transaction of $56,762.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 15.46% of the company’s stock.
Titan Machinery Profile
Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores. It operates through three segments: Agriculture, Construction, and International. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH family of brands, as well as equipment from various other manufacturers.
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.