Titan Machinery Inc. (TITN) Shares Bought by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC increased its position in shares of Titan Machinery Inc. (NASDAQ:TITN) by 35.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 141,725 shares of the company’s stock after purchasing an additional 36,828 shares during the quarter. Essex Investment Management Co. LLC owned 0.64% of Titan Machinery worth $2,195,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new stake in Titan Machinery in the second quarter worth $6,218,000. Northpointe Capital LLC acquired a new stake in Titan Machinery in the second quarter worth $4,026,000. Dimensional Fund Advisors LP increased its position in Titan Machinery by 16.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,675,678 shares of the company’s stock worth $26,057,000 after buying an additional 238,583 shares during the period. United Services Automobile Association increased its position in Titan Machinery by 101.0% in the second quarter. United Services Automobile Association now owns 428,222 shares of the company’s stock worth $8,933,000 after buying an additional 215,128 shares during the period. Finally, Global Alpha Capital Management Ltd. increased its position in Titan Machinery by 71.5% in the second quarter. Global Alpha Capital Management Ltd. now owns 412,379 shares of the company’s stock worth $6,412,000 after buying an additional 171,934 shares during the period. Hedge funds and other institutional investors own 82.07% of the company’s stock.

TITN has been the topic of several analyst reports. BidaskClub lowered Titan Machinery from a “hold” rating to a “sell” rating in a research report on Wednesday, July 4th. ValuEngine lowered Titan Machinery from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. Finally, Zacks Investment Research lowered Titan Machinery from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $22.75.

Shares of TITN opened at $14.83 on Thursday. The firm has a market cap of $344.05 million, a PE ratio of -123.58 and a beta of 1.70. The company has a current ratio of 1.43, a quick ratio of 0.29 and a debt-to-equity ratio of 0.07. Titan Machinery Inc. has a one year low of $13.66 and a one year high of $25.09.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings results on Thursday, August 30th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.16. The company had revenue of $299.89 million for the quarter, compared to analyst estimates of $291.08 million. Titan Machinery had a return on equity of 2.16% and a net margin of 0.63%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company earned ($0.04) earnings per share. Sell-side analysts anticipate that Titan Machinery Inc. will post 0.63 EPS for the current year.

Titan Machinery Company 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.

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Institutional Ownership by Quarter for Titan Machinery (NASDAQ:TITN)

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