Insider Buying: Titan Machinery Inc. (NASDAQ:TITN) CFO Buys 658 Shares of Stock

Titan Machinery Inc. (NASDAQ:TITN) CFO Robert Larsen acquired 658 shares of the company’s stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average cost of $15.20 per share, for a total transaction of $10,001.60. Following the completion of the acquisition, the chief financial officer now directly owns 37,330 shares in the company, valued at approximately $567,416. The trade was a 1.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Titan Machinery Price Performance

Titan Machinery stock traded down $0.29 during trading on Monday, reaching $14.71. The company had a trading volume of 145,363 shares, compared to its average volume of 263,216. The firm has a market capitalization of $340.18 million, a PE ratio of 10.97 and a beta of 1.27. The firm’s 50-day simple moving average is $17.05 and its 200 day simple moving average is $15.38. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32. Titan Machinery Inc. has a 1-year low of $12.30 and a 1-year high of $24.31.

Institutional Trading of Titan Machinery

A number of institutional investors and hedge funds have recently modified their holdings of TITN. FMR LLC increased its stake in Titan Machinery by 142.5% during the 3rd quarter. FMR LLC now owns 5,262 shares of the company’s stock worth $73,000 after buying an additional 3,092 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Titan Machinery by 21.2% during the third quarter. BNP Paribas Financial Markets now owns 78,510 shares of the company’s stock worth $1,094,000 after purchasing an additional 13,757 shares in the last quarter. Verition Fund Management LLC acquired a new position in Titan Machinery in the 3rd quarter valued at $229,000. Janus Henderson Group PLC lifted its holdings in Titan Machinery by 6.8% in the 3rd quarter. Janus Henderson Group PLC now owns 39,262 shares of the company’s stock valued at $547,000 after purchasing an additional 2,496 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in Titan Machinery by 122.1% in the 3rd quarter. Jane Street Group LLC now owns 56,375 shares of the company’s stock valued at $785,000 after purchasing an additional 30,997 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Analysts Set New Price Targets

TITN has been the subject of a number of research reports. Robert W. Baird decreased their target price on shares of Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Baird R W upgraded Titan Machinery from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 27th. Finally, B. Riley began coverage on Titan Machinery in a research report on Thursday, March 27th. They set a “neutral” rating and a $19.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Titan Machinery currently has a consensus rating of “Hold” and an average price target of $19.80.

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.