Ballentine Partners LLC Sells 3,120 Shares of Titan Machinery Inc. (NASDAQ:TITN)

Ballentine Partners LLC cut its stake in Titan Machinery Inc. (NASDAQ:TITN) by 17.9% in the fourth quarter, HoldingsChannel reports. The fund owned 14,355 shares of the company’s stock after selling 3,120 shares during the period. Ballentine Partners LLC’s holdings in Titan Machinery were worth $203,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TITN. Canada Pension Plan Investment Board acquired a new position in Titan Machinery during the 2nd quarter worth $37,000. Truvestments Capital LLC bought a new position in Titan Machinery in the third quarter valued at about $41,000. US Bancorp DE increased its position in Titan Machinery by 116.2% in the third quarter. US Bancorp DE now owns 3,120 shares of the company’s stock worth $43,000 after purchasing an additional 1,677 shares during the period. FMR LLC raised its holdings in Titan Machinery by 142.5% during the 3rd quarter. FMR LLC now owns 5,262 shares of the company’s stock worth $73,000 after purchasing an additional 3,092 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Titan Machinery in the 3rd quarter valued at about $105,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Titan Machinery Trading Down 0.3 %

Shares of NASDAQ TITN opened at $15.75 on Friday. Titan Machinery Inc. has a fifty-two week low of $12.30 and a fifty-two week high of $28.29. The firm has a market capitalization of $364.23 million, a P/E ratio of 11.75 and a beta of 1.30. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15. The company’s 50 day simple moving average is $14.66 and its 200 day simple moving average is $14.71.

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

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.