Chicago Equity Partners LLC Sells 60,330 Shares of Titan Machinery Inc. (TITN)
Chicago Equity Partners LLC lessened its stake in shares of Titan Machinery Inc. (NASDAQ:TITN) by 43.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 78,060 shares of the company’s stock after selling 60,330 shares during the period. Chicago Equity Partners LLC owned about 0.36% of Titan Machinery worth $1,212,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Rhumbline Advisers lifted its position in shares of Titan Machinery by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 21,909 shares of the company’s stock valued at $394,000 after acquiring an additional 545 shares during the last quarter. American International Group Inc. lifted its position in shares of Titan Machinery by 7.2% during the 1st quarter. American International Group Inc. now owns 10,919 shares of the company’s stock valued at $167,000 after acquiring an additional 729 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of Titan Machinery by 14.2% during the 2nd quarter. Voya Investment Management LLC now owns 11,520 shares of the company’s stock valued at $207,000 after acquiring an additional 1,429 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Titan Machinery by 14.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,622 shares of the company’s stock valued at $298,000 after acquiring an additional 2,054 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its position in shares of Titan Machinery by 29.0% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 13,068 shares of the company’s stock valued at $235,000 after acquiring an additional 2,939 shares during the last quarter. Institutional investors own 75.73% of the company’s stock.
A number of equities research analysts have recently commented on TITN shares. Zacks Investment Research downgraded Titan Machinery from a “hold” rating to a “sell” rating in a research report on Thursday, September 7th. ValuEngine downgraded Titan Machinery from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Robert W. Baird set a $18.00 price objective on Titan Machinery and gave the company a “buy” rating in a research report on Thursday, August 24th. Piper Jaffray Companies reiterated a “hold” rating on shares of Titan Machinery in a research report on Thursday, September 28th. Finally, BidaskClub downgraded Titan Machinery from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Titan Machinery presently has an average rating of “Hold” and a consensus price target of $18.00.
In other news, Director Stan K. Erickson bought 8,302 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were bought at an average cost of $12.50 per share, with a total value of $103,775.00. Following the purchase, the director now directly owns 13,495 shares in the company, valued at $168,687.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 16.08% of the stock is owned by insiders.
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Shares of Titan Machinery Inc. (TITN) opened at $14.65 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.74 and a quick ratio of 0.37. Titan Machinery Inc. has a one year low of $10.27 and a one year high of $19.22.
Titan Machinery (NASDAQ:TITN) last announced its earnings results on Thursday, August 31st. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.03). Titan Machinery had a negative net margin of 1.61% and a negative return on equity of 3.69%. The firm had revenue of $268.87 million for the quarter, compared to analyst estimates of $260.08 million. During the same period last year, the firm earned ($0.12) earnings per share. Titan Machinery’s revenue for the quarter was down 3.4% compared to the same quarter last year. analysts expect that Titan Machinery Inc. will post -0.22 earnings per share for the current year.
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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