Sei Investments Co. Buys 19,660 Shares of Titan Machinery Inc. (NASDAQ:TITN)

Sei Investments Co. increased its stake in Titan Machinery Inc. (NASDAQ:TITN) by 6.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 306,624 shares of the company’s stock after acquiring an additional 19,660 shares during the period. Sei Investments Co.’s holdings in Titan Machinery were worth $4,875,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TITN. Innealta Capital LLC purchased a new position in Titan Machinery in the 2nd quarter worth approximately $36,000. Canada Pension Plan Investment Board bought a new stake in Titan Machinery during the 2nd quarter valued at $37,000. nVerses Capital LLC boosted its position in Titan Machinery by 118.2% during the 2nd quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock valued at $38,000 after buying an additional 1,300 shares during the period. Waterfront Wealth Inc. bought a new stake in Titan Machinery in the 2nd quarter worth $177,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Titan Machinery in the second quarter valued at about $218,000. Institutional investors own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Northland Securities reiterated a “market perform” rating and set a $25.00 target price on shares of Titan Machinery in a report on Friday, September 13th. Robert W. Baird cut their price objective on Titan Machinery from $18.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. B. Riley decreased their target price on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. Craig Hallum dropped their price target on Titan Machinery from $25.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Finally, Lake Street Capital downgraded shares of Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Titan Machinery presently has an average rating of “Hold” and a consensus target price of $21.00.

Titan Machinery Price Performance

TITN opened at $14.04 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 0.13 and a debt-to-equity ratio of 0.18. The company has a market cap of $324.75 million, a price-to-earnings ratio of 3.38 and a beta of 1.26. The stock has a fifty day simple moving average of $14.63 and a two-hundred day simple moving average of $18.32. 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 results on Thursday, August 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.09). Titan Machinery had a return on equity of 10.38% and a net margin of 2.11%. The business had revenue of $633.70 million during the quarter, compared to the consensus estimate of $645.28 million. During the same quarter in the previous year, the business earned $1.38 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. Research analysts predict that Titan Machinery Inc. will post 0.21 earnings per share for the current fiscal 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.