Assenagon Asset Management S.A. Has $6.29 Million Stock Position in Titan Machinery Inc. (NASDAQ:TITN)

Assenagon Asset Management S.A. raised its holdings in shares of Titan Machinery Inc. (NASDAQ:TITNFree Report) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 217,698 shares of the company’s stock after buying an additional 19,327 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Titan Machinery were worth $6,287,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Titan Machinery by 65.8% during the 1st quarter. JPMorgan Chase & Co. now owns 282,713 shares of the company’s stock valued at $7,990,000 after purchasing an additional 112,210 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Titan Machinery during the first quarter valued at about $341,000. MetLife Investment Management LLC lifted its stake in shares of Titan Machinery by 16.0% in the first quarter. MetLife Investment Management LLC now owns 9,539 shares of the company’s stock valued at $270,000 after buying an additional 1,313 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Titan Machinery by 1.5% in the first 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. Finally, Aviva PLC acquired a new stake in Titan Machinery during the first quarter worth about $760,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TITN shares. TheStreet cut Titan Machinery from a “b-” rating to a “c+” rating in a report on Monday, February 26th. Stephens restated an “overweight” rating and set a $42.00 price objective on shares of Titan Machinery in a research report on Friday, January 12th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Titan Machinery currently has an average rating of “Moderate Buy” and a consensus price target of $45.33.

Read Our Latest Stock Report on TITN

Titan Machinery Stock Performance

NASDAQ TITN opened at $24.81 on Friday. Titan Machinery Inc. has a twelve month low of $21.44 and a twelve month high of $35.88. The company has a quick ratio of 0.24, a current ratio of 1.45 and a debt-to-equity ratio of 0.14. The stock has a market cap of $566.88 million, a P/E ratio of 5.02 and a beta of 1.40. The company’s 50-day simple moving average is $25.92 and its 200 day simple moving average is $26.15.

Titan Machinery (NASDAQ:TITNGet Free Report) last released its quarterly earnings data on Thursday, March 21st. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. Titan Machinery had a return on equity of 18.88% and a net margin of 4.08%. The company had revenue of $852.10 million for the quarter, compared to the consensus estimate of $734.99 million. During the same period in the previous year, the business earned $0.81 earnings per share. The company’s quarterly revenue was up 46.2% on a year-over-year basis. As a group, research analysts forecast that Titan Machinery Inc. will post 3.35 earnings per share for the current fiscal year.

Titan Machinery Company Profile

(Free Report)

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States and Europe. It operates through three segments: Agriculture, Construction, and International. 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.

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Institutional Ownership by Quarter for Titan Machinery (NASDAQ:TITN)

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