Verition Fund Management LLC Makes New $229,000 Investment in Titan Machinery Inc. (NASDAQ:TITN)

Verition Fund Management LLC bought a new position in shares of Titan Machinery Inc. (NASDAQ:TITN) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 16,450 shares of the company’s stock, valued at approximately $229,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Dana Investment Advisors Inc. grew its holdings in shares of Titan Machinery by 32.9% in the 2nd quarter. Dana Investment Advisors Inc. now owns 384,548 shares of the company’s stock valued at $6,114,000 after acquiring an additional 95,221 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Titan Machinery by 28.8% in the 2nd quarter. Victory Capital Management Inc. now owns 363,011 shares of the company’s stock valued at $5,772,000 after acquiring an additional 81,248 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Titan Machinery by 552.2% in the 2nd quarter. Squarepoint Ops LLC now owns 87,648 shares of the company’s stock valued at $1,394,000 after acquiring an additional 74,209 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Titan Machinery by 3.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 24,475 shares of the company’s stock valued at $389,000 after acquiring an additional 818 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of Titan Machinery by 39.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 334,511 shares of the company’s stock valued at $5,319,000 after acquiring an additional 94,250 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

Titan Machinery Trading Down 2.0 %

Shares of TITN stock opened at $14.77 on Monday. The firm has a 50 day moving average price of $14.66 and a two-hundred day moving average price of $15.16. The company has a quick ratio of 0.15, a current ratio of 1.32 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $341.63 million, a PE ratio of 11.02 and a beta of 1.30. Titan Machinery Inc. has a 12-month low of $12.30 and a 12-month high of $29.30.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings data on Tuesday, November 26th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.04. The firm had revenue of $679.80 million during the quarter, compared to the consensus estimate of $675.30 million. Titan Machinery had a net margin of 1.10% and a return on equity of 5.91%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period last year, the business posted $1.32 earnings per share. As a group, analysts predict that Titan Machinery Inc. will post 0.05 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TITN shares. B. Riley decreased their price objective on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. Northland Securities reiterated a “market perform” rating and issued a $25.00 target price on shares of Titan Machinery in a research note on Friday, September 13th. Finally, Northland Capmk downgraded shares of Titan Machinery from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Titan Machinery has an average rating of “Hold” and a consensus price target of $21.00.

About Titan Machinery

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.