New York State Common Retirement Fund grew its stake in shares of Titan Machinery Inc. (NASDAQ:TITN) by 34.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,200 shares of the company’s stock after acquiring an additional 5,399 shares during the quarter. New York State Common Retirement Fund owned about 0.10% of Titan Machinery worth $381,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TITN. American International Group Inc. increased its stake 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. Rhumbline Advisers increased its stake 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. Schroder Investment Management Group acquired a new position in shares of Titan Machinery during the 2nd quarter valued at about $435,000. Eagle Global Advisors LLC increased its stake in shares of Titan Machinery by 24.3% during the 2nd quarter. Eagle Global Advisors LLC now owns 28,805 shares of the company’s stock valued at $518,000 after acquiring an additional 5,630 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in shares of Titan Machinery during the 2nd quarter valued at about $590,000. 75.73% of the stock is owned by institutional investors.

In other Titan Machinery news, Director Stan K. Erickson bought 8,302 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average price of $12.50 per share, with a total value of $103,775.00. Following the transaction, the director now 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 this hyperlink. 16.08% of the stock is currently owned by corporate insiders.

A number of research analysts have recently commented on TITN shares. Zacks Investment Research downgraded shares of Titan Machinery from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. BidaskClub downgraded shares of Titan Machinery from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Piper Jaffray Companies set a $18.00 price objective on shares of Titan Machinery and gave the company a “hold” rating in a research note on Friday, August 4th. Robert W. Baird set a $18.00 price objective on shares of Titan Machinery and gave the company a “buy” rating in a research note on Thursday, August 24th. Finally, ValuEngine downgraded shares of Titan Machinery from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $18.00.

Shares of Titan Machinery Inc. (NASDAQ:TITN) opened at $15.09 on Friday. Titan Machinery Inc. has a 1 year low of $11.41 and a 1 year high of $19.22. The company has a quick ratio of 0.37, a current ratio of 1.74 and a debt-to-equity ratio of 0.38.

Titan Machinery (NASDAQ:TITN) last posted its earnings results on Thursday, August 31st. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.03). The business had revenue of $268.87 million for the quarter, compared to analyst estimates of $260.08 million. Titan Machinery had a negative return on equity of 3.69% and a negative net margin of 1.61%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period last year, the company posted ($0.12) EPS. equities research analysts forecast that Titan Machinery Inc. will post -0.22 earnings per share for the current fiscal year.

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Titan Machinery 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.

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

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