Teton Advisors Inc. Increases Stake in Titan Machinery Inc. (TITN)

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Teton Advisors Inc. grew its holdings in Titan Machinery Inc. (NASDAQ:TITN) by 20.9% in the second quarter, Holdings Channel reports. The institutional investor owned 162,888 shares of the company’s stock after acquiring an additional 28,200 shares during the quarter. Teton Advisors Inc.’s holdings in Titan Machinery were worth $2,533,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Gamco Investors INC. ET AL purchased a new stake in shares of Titan Machinery in the second quarter valued at about $311,000. Gabelli Funds LLC purchased a new stake in shares of Titan Machinery in the second quarter valued at about $544,000. Federated Investors Inc. PA raised its holdings in shares of Titan Machinery by 8.3% in the second quarter. Federated Investors Inc. PA now owns 185,455 shares of the company’s stock valued at $2,884,000 after buying an additional 14,263 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Titan Machinery by 16.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,675,678 shares of the company’s stock valued at $26,057,000 after buying an additional 238,583 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Titan Machinery by 6.9% in the second quarter. BlackRock Inc. now owns 1,294,025 shares of the company’s stock valued at $20,121,000 after buying an additional 83,390 shares during the last quarter. 82.55% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently commented on the stock. BidaskClub raised shares of Titan Machinery from a “sell” rating to a “hold” rating in a report on Thursday, July 19th. ValuEngine raised shares of Titan Machinery from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, Zacks Investment Research cut shares of Titan Machinery from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $23.75.

In other news, Director Stan K. Erickson purchased 3,000 shares of the business’s stock in a transaction that occurred on Friday, June 1st. The stock was purchased at an average cost of $18.06 per share, with a total value of $54,180.00. Following the completion of the acquisition, the director now directly owns 16,495 shares of the company’s stock, valued at approximately $297,899.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 15.46% of the company’s stock.

NASDAQ TITN opened at $17.28 on Thursday. The stock has a market cap of $346.43 million, a P/E ratio of -144.00 and a beta of 1.57. Titan Machinery Inc. has a 52-week low of $11.68 and a 52-week high of $25.09. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.66 and a quick ratio of 0.34.

Titan Machinery (NASDAQ:TITN) last posted its quarterly earnings results on Thursday, August 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.16. The firm had revenue of $299.89 million during the quarter, compared to analysts’ expectations of $291.08 million. Titan Machinery had a negative net margin of 0.23% and a negative return on equity of 0.08%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.04) earnings per share. sell-side analysts predict that Titan Machinery Inc. will post 0.41 EPS for the current fiscal year.

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

Read More: Leveraged Buyout (LBO)

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

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