Weber Alan W Continues to Hold Position in Titan Machinery Inc. (NASDAQ:TITN)
Weber Alan W maintained its stake in shares of Titan Machinery Inc. (NASDAQ:TITN) during the second quarter, Holdings Channel reports. The institutional investor owned 13,500 shares of the company’s stock at the end of the second quarter. Weber Alan W’s holdings in Titan Machinery were worth $243,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. American International Group Inc. increased its stake in shares of Titan Machinery by 7.2% in the first quarter. American International Group Inc. now owns 10,919 shares of the company’s stock worth $167,000 after buying an additional 729 shares in the last quarter. Oxford Asset Management bought a new position in shares of Titan Machinery during the first quarter worth about $168,000. Hancock Holding Co. bought a new position in shares of Titan Machinery during the first quarter worth about $199,000. Sei Investments Co. boosted its position in shares of Titan Machinery by 195.0% in the first quarter. Sei Investments Co. now owns 16,746 shares of the company’s stock worth $257,000 after buying an additional 11,070 shares during the last quarter. Finally, Eagle Global Advisors LLC boosted its position in shares of Titan Machinery by 49.0% in the first quarter. Eagle Global Advisors LLC now owns 23,175 shares of the company’s stock worth $356,000 after buying an additional 7,620 shares during the last quarter. Institutional investors own 81.19% of the company’s stock.
Titan Machinery Inc. (NASDAQ:TITN) opened at 16.61 on Friday. The firm’s market capitalization is $354.99 million. Titan Machinery Inc. has a one year low of $8.68 and a one year high of $19.22. The stock has a 50 day moving average price of $17.72 and a 200-day moving average price of $15.79.
Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings results on Thursday, May 25th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by $0.06. The company had revenue of $264.10 million during the quarter, compared to the consensus estimate of $257 million. Titan Machinery had a negative net margin of 1.37% and a negative return on equity of 4.11%. The company’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.21) earnings per share. On average, equities analysts forecast that Titan Machinery Inc. will post $0.03 earnings per share for the current year.
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A number of brokerages have recently issued reports on TITN. BidaskClub cut Titan Machinery from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Piper Jaffray Companies set a $18.00 target price on Titan Machinery and gave the stock a “hold” rating in a report on Friday, August 4th. Zacks Investment Research cut Titan Machinery from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Finally, ValuEngine raised Titan Machinery from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Titan Machinery presently has an average rating of “Hold” and an average target price of $18.67.
In related news, Chairman David Joseph Meyer sold 44,950 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $17.25, for a total value of $775,387.50. Following the completion of the sale, the chairman now directly owns 724,660 shares in the company, valued at $12,500,385. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 16.08% of the company’s stock.
About Titan Machinery
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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