Wedge Capital Management L L P NC increased its holdings in shares of Titan Machinery Inc. (NASDAQ:TITN) by 7.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,242 shares of the company’s stock after acquiring an additional 4,464 shares during the quarter. Wedge Capital Management L L P NC owned about 0.30% of Titan Machinery worth $950,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of TITN. Nuveen Asset Management LLC acquired a new position in shares of Titan Machinery during the 2nd quarter worth approximately $8,449,000. Balter Liquid Alternatives LLC acquired a new position in shares of Titan Machinery during the 2nd quarter worth approximately $1,715,000. Renaissance Technologies LLC increased its holdings in shares of Titan Machinery by 61.9% during the 2nd quarter. Renaissance Technologies LLC now owns 176,023 shares of the company’s stock worth $3,623,000 after acquiring an additional 67,323 shares during the last quarter. Bogle Investment Management L P DE acquired a new position in shares of Titan Machinery during the 2nd quarter worth approximately $955,000. Finally, Systematic Financial Management LP acquired a new position in shares of Titan Machinery during the 2nd quarter worth approximately $846,000. 78.12% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ TITN traded up $0.18 on Friday, reaching $17.37. The stock had a trading volume of 201 shares, compared to its average volume of 86,094. 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 firm has a fifty day moving average of $15.62 and a two-hundred day moving average of $17.11. Titan Machinery Inc. has a 1-year low of $11.99 and a 1-year high of $21.88. The company has a market cap of $405.05 million, a P/E ratio of 25.66 and a beta of 2.36.
Titan Machinery (NASDAQ:TITN) last released its earnings results on Thursday, August 29th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). The company had revenue of $315.00 million for the quarter, compared to the consensus estimate of $315.40 million. Titan Machinery had a net margin of 1.04% and a return on equity of 5.20%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 earnings per share. Research analysts predict that Titan Machinery Inc. will post 0.87 EPS for the current fiscal year.
A number of research analysts recently weighed in on TITN shares. BidaskClub raised Titan Machinery from a “hold” rating to a “buy” rating in a report on Thursday. ValuEngine lowered Titan Machinery from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Finally, Zacks Investment Research raised Titan Machinery from a “sell” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Sunday, November 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus 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.
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