Titan Machinery Inc. (NASDAQ:TITN) Chairman David Joseph Meyer Acquires 22,524 Shares

Titan Machinery Inc. (NASDAQ:TITN) Chairman David Joseph Meyer acquired 22,524 shares of the business’s stock in a transaction on Friday, March 21st. The stock was purchased at an average price of $16.83 per share, for a total transaction of $379,078.92. Following the acquisition, the chairman now directly owns 135,388 shares in the company, valued at $2,278,580.04. This represents a 19.96 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

David Joseph Meyer also recently made the following trade(s):

• On Monday, March 24th, David Joseph Meyer bought 3,000 shares of Titan Machinery stock. The shares were acquired at an average cost of $16.86 per share, for a total transaction of $50,580.00.

Titan Machinery Trading Up 0.9 %

Shares of NASDAQ TITN opened at $18.07 on Friday. The stock has a market capitalization of $417.89 million, a P/E ratio of 13.49 and a beta of 1.28. The stock’s 50 day moving average price is $16.95 and its two-hundred day moving average price is $15.22. The company has a quick ratio of 0.15, a current ratio of 1.32 and a debt-to-equity ratio of 0.20. Titan Machinery Inc. has a 52-week low of $12.30 and a 52-week high of $24.89.

Institutional Investors Weigh In On Titan Machinery

Several institutional investors and hedge funds have recently made changes to their positions in TITN. US Bancorp DE increased its stake in Titan Machinery by 23.8% during the fourth quarter. US Bancorp DE now owns 3,861 shares of the company’s stock valued at $55,000 after purchasing an additional 741 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Titan Machinery by 51.2% in the 4th quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company’s stock valued at $37,000 after buying an additional 882 shares during the period. Empowered Funds LLC grew its position in shares of Titan Machinery by 5.1% during the 4th quarter. Empowered Funds LLC now owns 20,000 shares of the company’s stock valued at $283,000 after buying an additional 962 shares during the last quarter. Bridgeway Capital Management LLC grew its position in shares of Titan Machinery by 5.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 20,000 shares of the company’s stock valued at $283,000 after buying an additional 962 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Titan Machinery by 8.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,655 shares of the company’s stock worth $208,000 after acquiring an additional 1,197 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TITN has been the subject of a number of analyst reports. Robert W. Baird reduced their price target on Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Baird R W upgraded Titan Machinery from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 27th. Finally, B. Riley assumed coverage on shares of Titan Machinery in a research note on Thursday. They issued a “neutral” rating and a $19.00 price target for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Titan Machinery currently has an average rating of “Hold” and an average target price of $19.80.

Titan Machinery Company 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.