Titan Machinery Inc. (TITN) Sees Significant Increase in Short Interest

Titan Machinery Inc. (NASDAQ:TITN) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 872,527 shares, a growth of 37.9% from the January 15th total of 632,907 shares. Based on an average daily trading volume, of 205,195 shares, the short-interest ratio is currently 4.3 days. Approximately 4.6% of the shares of the company are sold short.

In other Titan Machinery news, Chairman David Joseph Meyer sold 53,000 shares of the stock in a transaction on Friday, November 30th. The stock was sold at an average price of $18.56, for a total value of $983,680.00. Following the sale, the chairman now directly owns 662,864 shares of the company’s stock, valued at $12,302,755.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 15.46% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Quantamental Technologies LLC acquired a new position in shares of Titan Machinery during the fourth quarter valued at $48,000. Citigroup Inc. increased its holdings in shares of Titan Machinery by 12.3% during the fourth quarter. Citigroup Inc. now owns 7,025 shares of the company’s stock valued at $92,000 after purchasing an additional 769 shares during the period. Jefferies Group LLC acquired a new position in shares of Titan Machinery during the third quarter valued at $158,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Titan Machinery during the third quarter valued at $159,000. Finally, Virtu Financial LLC acquired a new position in shares of Titan Machinery during the third quarter valued at $170,000. 78.75% of the stock is currently owned by institutional investors.

Shares of NASDAQ TITN opened at $19.72 on Thursday. Titan Machinery has a 1-year low of $11.99 and a 1-year high of $25.09. The company has a current ratio of 1.49, a quick ratio of 0.32 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $427.48 million, a price-to-earnings ratio of -164.33 and a beta of 2.14.

Titan Machinery (NASDAQ:TITN) last issued its earnings results on Thursday, November 29th. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.13. Titan Machinery had a return on equity of 4.11% and a net margin of 1.28%. The firm had revenue of $363.65 million for the quarter, compared to analyst estimates of $360.30 million. During the same period last year, the company earned $0.20 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. Sell-side analysts anticipate that Titan Machinery will post 0.72 EPS for the current fiscal year.

Several brokerages have weighed in on TITN. ValuEngine lowered Titan Machinery from a “buy” rating to a “hold” rating in a research report on Tuesday, December 18th. BidaskClub lowered Titan Machinery from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Zacks Investment Research lowered Titan Machinery from a “buy” rating to a “hold” rating in a research report on Tuesday, February 5th. Finally, William Blair reaffirmed a “market perform” rating on shares of Titan Machinery in a research report on Wednesday, January 30th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $24.00.

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About Titan Machinery

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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