Insider Buying: Titan Machinery Inc. (NASDAQ:TITN) Chairman Buys 22,524 Shares of Stock

Titan Machinery Inc. (NASDAQ:TITN) Chairman David Joseph Meyer bought 22,524 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was acquired at an average price of $16.83 per share, for a total transaction of $379,078.92. Following the purchase, the chairman now directly owns 135,388 shares in the company, valued at approximately $2,278,580.04. The trade was a 19.96 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

David Joseph Meyer also recently made the following trade(s):

• On Monday, March 24th, David Joseph Meyer acquired 3,000 shares of Titan Machinery stock. The stock was acquired at an average cost of $16.86 per share, for a total transaction of $50,580.00.

Titan Machinery Price Performance

Shares of Titan Machinery stock traded up $0.85 during trading on Tuesday, hitting $18.62. 171,136 shares of the stock traded hands, compared to its average volume of 253,502. The firm’s fifty day moving average is $16.77 and its 200-day moving average is $15.15. The stock has a market cap of $430.61 million, a price-to-earnings ratio of 13.88 and a beta of 1.28. Titan Machinery Inc. has a 52 week low of $12.30 and a 52 week high of $24.89. The company has a quick ratio of 0.15, a current ratio of 1.32 and a debt-to-equity ratio of 0.20.

Analysts Set New Price Targets

TITN has been the subject of several research reports. Baird R W upgraded shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 27th. Robert W. Baird cut their price target on Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Titan Machinery currently has a consensus rating of “Hold” and a consensus price target of $19.00.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TITN. R Squared Ltd bought a new stake in Titan Machinery in the fourth quarter valued at $26,000. Russell Investments Group Ltd. boosted its stake in shares of Titan Machinery by 51.2% during the 4th quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company’s stock valued at $37,000 after purchasing an additional 882 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of Titan Machinery during the third quarter valued at about $41,000. US Bancorp DE raised its stake in Titan Machinery by 23.8% in the fourth quarter. US Bancorp DE now owns 3,861 shares of the company’s stock worth $55,000 after buying an additional 741 shares in the last quarter. Finally, FMR LLC lifted its holdings in Titan Machinery by 142.5% in the third quarter. FMR LLC now owns 5,262 shares of the company’s stock worth $73,000 after buying an additional 3,092 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

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.