Engineers Gate Manager LP Trims Stock Position in Titan Machinery Inc. (NASDAQ:TITN)

Engineers Gate Manager LP lessened its position in shares of Titan Machinery Inc. (NASDAQ:TITN – Get Rating) by 42.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,600 shares of the company’s stock after selling 9,231 shares during the quarter. Engineers Gate Manager LP owned about 0.06% of Titan Machinery worth $356,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Titan Machinery by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,683,465 shares of the company’s stock valued at $47,575,000 after buying an additional 25,662 shares during the period. Principal Financial Group Inc. increased its holdings in Titan Machinery by 29.4% in the 2nd quarter. Principal Financial Group Inc. now owns 1,131,889 shares of the company’s stock valued at $25,366,000 after purchasing an additional 257,428 shares during the last quarter. Aristotle Capital Boston LLC increased its holdings in Titan Machinery by 7.5% in the 2nd quarter. Aristotle Capital Boston LLC now owns 681,916 shares of the company’s stock valued at $15,282,000 after purchasing an additional 47,657 shares during the last quarter. Global Alpha Capital Management Ltd. increased its holdings in Titan Machinery by 10.4% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 604,961 shares of the company’s stock valued at $17,096,000 after purchasing an additional 56,900 shares during the last quarter. Finally, State Street Corp increased its holdings in Titan Machinery by 32.7% in the 2nd quarter. State Street Corp now owns 470,579 shares of the company’s stock valued at $10,546,000 after purchasing an additional 115,876 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TITN shares. StockNews.com upgraded shares of Titan Machinery from a “hold” rating to a “buy” rating in a report on Saturday, March 4th. Stephens raised their price target on shares of Titan Machinery to $53.00 in a research report on Friday, December 2nd. Finally, B. Riley initiated coverage on shares of Titan Machinery in a research report on Tuesday, December 13th. They issued a “buy” rating and a $48.00 price target for the company. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $45.00.

Titan Machinery Stock Performance

Shares of TITN stock opened at $40.39 on Tuesday. The company has a quick ratio of 0.37, a current ratio of 1.74 and a debt-to-equity ratio of 0.18. Titan Machinery Inc. has a 52 week low of $21.50 and a 52 week high of $47.87. The stock has a market capitalization of $917.26 million, a PE ratio of 8.61 and a beta of 1.66. The firm has a 50 day moving average of $43.53 and a two-hundred day moving average of $37.24.

Titan Machinery Company Profile

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Titan Machinery, Inc engages in the management of agricultural and construction equipment stores. It operates through the following segments: Agriculture, Construction and International. The Agriculture segment sells services and rents machinery and related parts and attachments, for uses from large-scale farming to home and garden use in North America.