Algert Global LLC Has $476,000 Stake in Titan Machinery Inc. (NASDAQ:TITN)

Algert Global LLC decreased its position in Titan Machinery Inc. (NASDAQ:TITN) by 58.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,927 shares of the company’s stock after selling 42,028 shares during the quarter. Algert Global LLC owned about 0.13% of Titan Machinery worth $476,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC grew its position in shares of Titan Machinery by 23.5% in the second quarter. AQR Capital Management LLC now owns 164,064 shares of the company’s stock valued at $2,609,000 after purchasing an additional 31,199 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of Titan Machinery by 552.2% in the second quarter. Squarepoint Ops LLC now owns 87,648 shares of the company’s stock valued at $1,394,000 after purchasing an additional 74,209 shares during the last quarter. Gabelli Funds LLC grew its position in shares of Titan Machinery by 39.1% in the second quarter. Gabelli Funds LLC now owns 128,000 shares of the company’s stock valued at $2,035,000 after purchasing an additional 36,000 shares during the last quarter. Sei Investments Co. grew its position in shares of Titan Machinery by 6.9% in the second quarter. Sei Investments Co. now owns 306,624 shares of the company’s stock valued at $4,875,000 after purchasing an additional 19,660 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Titan Machinery in the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TITN shares. Craig Hallum cut their price target on Titan Machinery from $25.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Northland Capmk cut Titan Machinery from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 20th. Robert W. Baird cut their price target on Titan Machinery from $18.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. B. Riley cut their price target on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, September 3rd. Finally, Lake Street Capital cut Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 price target for the company. in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Titan Machinery currently has an average rating of “Hold” and an average price target of $21.00.

Titan Machinery Price Performance

NASDAQ TITN opened at $13.99 on Tuesday. The business has a fifty day moving average price of $14.34 and a two-hundred day moving average price of $17.99. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.27 and a quick ratio of 0.13. Titan Machinery Inc. has a fifty-two week low of $12.30 and a fifty-two week high of $29.30. The stock has a market capitalization of $319.22 million, a PE ratio of 3.36 and a beta of 1.26.

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