Squarepoint Ops LLC Boosts Position in Titan Machinery Inc. (NASDAQ:TITN)

Squarepoint Ops LLC grew its stake in shares of Titan Machinery Inc. (NASDAQ:TITN) by 552.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,648 shares of the company’s stock after purchasing an additional 74,209 shares during the quarter. Squarepoint Ops LLC owned 0.38% of Titan Machinery worth $1,394,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gabelli Funds LLC lifted its holdings in Titan Machinery by 31.4% in the 4th quarter. Gabelli Funds LLC now owns 92,000 shares of the company’s stock worth $2,657,000 after buying an additional 22,000 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Titan Machinery by 56.3% in the 4th quarter. Fisher Asset Management LLC now owns 60,257 shares of the company’s stock worth $1,740,000 after buying an additional 21,703 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in Titan Machinery by 18.4% in the first quarter. Los Angeles Capital Management LLC now owns 12,347 shares of the company’s stock valued at $306,000 after acquiring an additional 1,920 shares during the period. MBM Wealth Consultants LLC boosted its position in Titan Machinery by 12.2% during the 1st quarter. MBM Wealth Consultants LLC now owns 18,737 shares of the company’s stock valued at $465,000 after purchasing an additional 2,038 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Titan Machinery by 31.7% during the first quarter. BNP Paribas Financial Markets now owns 65,535 shares of the company’s stock valued at $1,626,000 after acquiring an additional 15,766 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

Titan Machinery Stock Performance

TITN stock opened at $13.99 on Friday. The firm has a 50 day simple moving average of $14.42 and a 200 day simple moving average of $18.18. Titan Machinery Inc. has a 52 week low of $12.30 and a 52 week high of $29.30. The stock has a market cap of $319.22 million, a P/E ratio of 3.36 and a beta of 1.26. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.13 and a current ratio of 1.27.

Titan Machinery (NASDAQ:TITN) last released its earnings results on Thursday, August 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.09). Titan Machinery had a return on equity of 10.38% and a net margin of 2.11%. The company had revenue of $633.70 million during the quarter, compared to analysts’ expectations of $645.28 million. During the same quarter in the previous year, the company earned $1.38 EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts anticipate that Titan Machinery Inc. will post 0.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on TITN. B. Riley decreased their price objective on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. Craig Hallum lowered their price objective on shares of Titan Machinery from $25.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Robert W. Baird cut their target price on shares of Titan Machinery from $18.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Northland Securities reaffirmed a “market perform” rating and set a $25.00 target price on shares of Titan Machinery in a report on Friday, September 13th. Finally, Northland Capmk downgraded shares of Titan Machinery from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Titan Machinery presently has a consensus rating of “Hold” and an average target price of $21.00.

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.