Investors Research Corp Cuts Stake in Titan Machinery Inc. (NASDAQ:TITN)

Investors Research Corp reduced its holdings in shares of Titan Machinery Inc. (NASDAQ:TITN) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,272 shares of the company’s stock after selling 1,168 shares during the period. Investors Research Corp owned about 0.22% of Titan Machinery worth $707,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Strs Ohio increased its position in shares of Titan Machinery by 22.0% in the 3rd quarter. Strs Ohio now owns 39,900 shares of the company’s stock valued at $572,000 after purchasing an additional 7,200 shares during the last quarter. Bailard Inc. purchased a new stake in shares of Titan Machinery in the 3rd quarter valued at approximately $149,000. Meeder Asset Management Inc. increased its position in shares of Titan Machinery by 1,383.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,536 shares of the company’s stock valued at $36,000 after purchasing an additional 2,365 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Titan Machinery in the 3rd quarter valued at approximately $345,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Titan Machinery by 80.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 91,548 shares of the company’s stock valued at $1,313,000 after purchasing an additional 40,779 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Titan Machinery stock traded up $0.32 during trading hours on Tuesday, hitting $16.59. The company had a trading volume of 3,410 shares, compared to its average volume of 108,378. The company’s 50-day moving average is $14.90 and its two-hundred day moving average is $17.11. Titan Machinery Inc. has a twelve month low of $11.99 and a twelve month high of $21.88. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.40 and a quick ratio of 0.26. The company has a market cap of $359.90 million, a P/E ratio of 24.78 and a beta of 2.34.

Titan Machinery (NASDAQ:TITN) last issued its earnings results on Thursday, August 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.02). Titan Machinery had a net margin of 1.04% and a return on equity of 5.20%. The company had revenue of $315.00 million during the quarter, compared to analyst estimates of $315.40 million. During the same quarter in the previous year, the company posted $0.28 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Sell-side analysts expect that Titan Machinery Inc. will post 0.87 EPS for the current year.

A number of equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Titan Machinery from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd. BidaskClub raised shares of Titan Machinery from a “sell” rating to a “hold” rating in a research report on Friday. Finally, ValuEngine raised shares of Titan Machinery from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Titan Machinery currently has an average rating of “Hold” and an average target price of $21.50.

Titan Machinery Profile

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 Industrial family of brands, as well as equipment from various other manufacturers.

Further Reading: Price to Earnings Ratio (PE) Basics

Institutional Ownership by Quarter for Titan Machinery (NASDAQ:TITN)

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