Jane Street Group LLC Boosts Stock Position in Titan Machinery Inc. (NASDAQ:TITN)

Jane Street Group LLC lifted its stake in Titan Machinery Inc. (NASDAQ:TITN) by 122.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 56,375 shares of the company’s stock after purchasing an additional 30,997 shares during the quarter. Jane Street Group LLC owned about 0.24% of Titan Machinery worth $785,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board acquired a new stake in shares of Titan Machinery in the 2nd quarter worth $37,000. nVerses Capital LLC increased its position in Titan Machinery by 118.2% during the second quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock worth $38,000 after purchasing an additional 1,300 shares during the last quarter. Truvestments Capital LLC purchased a new position in Titan Machinery during the third quarter worth about $41,000. US Bancorp DE raised its stake in Titan Machinery by 116.2% during the third quarter. US Bancorp DE now owns 3,120 shares of the company’s stock worth $43,000 after purchasing an additional 1,677 shares during the period. Finally, FMR LLC boosted its holdings in Titan Machinery by 142.5% in the 3rd quarter. FMR LLC now owns 5,262 shares of the company’s stock valued at $73,000 after purchasing an additional 3,092 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Northland Securities reaffirmed a “market perform” rating and set a $25.00 price target on shares of Titan Machinery in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.00.

Titan Machinery Stock Performance

Shares of TITN stock opened at $13.85 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32. The firm has a market cap of $320.30 million, a P/E ratio of 10.34 and a beta of 1.30. The firm’s 50 day moving average price is $14.56 and its 200-day moving average price is $14.83. Titan Machinery Inc. has a one year low of $12.30 and a one year high of $28.44.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings results on Tuesday, November 26th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. The company had revenue of $679.80 million for the quarter, compared to analysts’ expectations of $675.30 million. Titan Machinery had a return on equity of 5.91% and a net margin of 1.10%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.32 earnings per share. As a group, equities research analysts predict that Titan Machinery Inc. will post 0.05 EPS for the current year.

Titan Machinery Profile

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.