Aigen Investment Management LP Acquires 8,736 Shares of Titan Machinery Inc. (NASDAQ:TITN)

Aigen Investment Management LP boosted its holdings in Titan Machinery Inc. (NASDAQ:TITN) by 62.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,634 shares of the company’s stock after purchasing an additional 8,736 shares during the quarter. Aigen Investment Management LP owned about 0.10% of Titan Machinery worth $654,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in shares of Titan Machinery by 241.0% in the 3rd quarter. American Century Companies Inc. now owns 721,521 shares of the company’s stock valued at $19,178,000 after acquiring an additional 509,919 shares in the last quarter. Global Alpha Capital Management Ltd. raised its holdings in shares of Titan Machinery by 9.2% during the third quarter. Global Alpha Capital Management Ltd. now owns 969,218 shares of the company’s stock valued at $25,762,000 after purchasing an additional 82,000 shares during the period. Jump Financial LLC bought a new position in shares of Titan Machinery during the 4th quarter worth about $1,620,000. Smith Graham & Co. Investment Advisors LP grew its stake in shares of Titan Machinery by 20.3% in the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 286,708 shares of the company’s stock valued at $8,280,000 after buying an additional 48,438 shares during the period. Finally, Algert Global LLC increased its position in Titan Machinery by 39.0% in the 3rd quarter. Algert Global LLC now owns 130,356 shares of the company’s stock valued at $3,465,000 after buying an additional 36,574 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Titan Machinery Stock Down 9.0 %

Shares of NASDAQ TITN opened at $21.07 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.32 and a quick ratio of 0.19. Titan Machinery Inc. has a 1 year low of $20.20 and a 1 year high of $35.88. The stock has a market capitalization of $480.82 million, a P/E ratio of 4.69 and a beta of 1.41. The company has a 50-day moving average price of $23.64 and a 200-day moving average price of $25.51.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings results on Thursday, March 21st. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. Titan Machinery had a return on equity of 18.40% and a net margin of 4.08%. The business had revenue of $852.10 million during the quarter, compared to the consensus estimate of $734.99 million. During the same quarter in the previous year, the business earned $0.81 EPS. The company’s quarterly revenue was up 46.2% on a year-over-year basis. On average, equities research analysts forecast that Titan Machinery Inc. will post 3.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, TheStreet lowered Titan Machinery from a “b-” rating to a “c+” rating in a report on Monday, February 26th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $45.33.

About Titan Machinery

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. 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.