Titan Machinery Inc. (TITN) Shares Bought by Geode Capital Management LLC
Geode Capital Management LLC raised its position in shares of Titan Machinery Inc. (NASDAQ:TITN) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 134,921 shares of the company’s stock after buying an additional 4,283 shares during the period. Geode Capital Management LLC owned 0.63% of Titan Machinery worth $2,069,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. American International Group Inc. raised its position in shares of Titan Machinery by 7.2% in the first quarter. American International Group Inc. now owns 10,919 shares of the company’s stock worth $167,000 after buying an additional 729 shares during the period. Oxford Asset Management acquired a new position in shares of Titan Machinery during the first quarter worth approximately $168,000. Hancock Holding Co. acquired a new position in shares of Titan Machinery during the first quarter worth approximately $199,000. Sei Investments Co. raised its position in shares of Titan Machinery by 195.0% in the first quarter. Sei Investments Co. now owns 16,746 shares of the company’s stock worth $257,000 after buying an additional 11,070 shares during the period. Finally, Eagle Global Advisors LLC raised its position in shares of Titan Machinery by 49.0% in the first quarter. Eagle Global Advisors LLC now owns 23,175 shares of the company’s stock worth $356,000 after buying an additional 7,620 shares during the period. 77.45% of the stock is currently owned by institutional investors.
Shares of Titan Machinery Inc. (NASDAQ TITN) traded up 0.58% on Monday, reaching $15.71. The company had a trading volume of 14,170 shares. The firm’s market cap is $335.75 million. The company has a 50-day moving average price of $17.22 and a 200-day moving average price of $15.98. Titan Machinery Inc. has a one year low of $8.68 and a one year high of $19.22.
Titan Machinery (NASDAQ:TITN) last announced its earnings results on Thursday, May 25th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. The company had revenue of $264.10 million for the quarter, compared to the consensus estimate of $257 million. Titan Machinery had a negative return on equity of 4.11% and a negative net margin of 1.37%. The firm’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.21) earnings per share. On average, analysts expect that Titan Machinery Inc. will post $0.03 earnings per share for the current fiscal year.
TITN has been the subject of several research reports. Zacks Investment Research raised Titan Machinery from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Friday, June 30th. BidaskClub cut Titan Machinery from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Robert W. Baird set a $18.00 target price on Titan Machinery and gave the company a “buy” rating in a research note on Thursday. Piper Jaffray Companies set a $18.00 target price on Titan Machinery and gave the company a “hold” rating in a research note on Friday, August 4th. Finally, ValuEngine raised Titan Machinery from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $18.50.
Titan Machinery Company Profile
Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services, and equipment rental and other activities.
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