Sei Investments Co. Has $4.88 Million Stock Position in Titan Machinery Inc. (NASDAQ:TITN)

Sei Investments Co. increased its position in Titan Machinery Inc. (NASDAQ:TITN) by 6.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 306,624 shares of the company’s stock after buying an additional 19,660 shares during the period. Sei Investments Co. owned 1.34% of Titan Machinery worth $4,875,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TITN. Canada Pension Plan Investment Board acquired a new stake in Titan Machinery in the second quarter valued at approximately $37,000. First Eagle Investment Management LLC grew its position in Titan Machinery by 39.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 334,511 shares of the company’s stock valued at $5,319,000 after purchasing an additional 94,250 shares during the period. American Century Companies Inc. raised its holdings in Titan Machinery by 11.3% during the second quarter. American Century Companies Inc. now owns 1,155,535 shares of the company’s stock worth $18,373,000 after buying an additional 117,577 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Titan Machinery during the second quarter valued at about $281,000. Finally, Victory Capital Management Inc. increased its position in shares of Titan Machinery by 28.8% during the second quarter. Victory Capital Management Inc. now owns 363,011 shares of the company’s stock worth $5,772,000 after acquiring an additional 81,248 shares in the last quarter. 78.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have 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. Robert W. Baird lowered their price target on Titan Machinery from $18.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. B. Riley reduced their target price on shares of Titan Machinery from $20.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, September 3rd. Lake Street Capital lowered shares of Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a research report on Thursday, August 15th. Finally, Northland Securities reiterated a “market perform” rating and issued a $25.00 price objective on shares of Titan Machinery in a research note 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $21.00.

Titan Machinery Trading Up 0.8 %

NASDAQ:TITN opened at $14.04 on Wednesday. Titan Machinery Inc. has a 12 month low of $12.30 and a 12 month high of $29.30. The company has a current ratio of 1.27, a quick ratio of 0.13 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average is $14.63 and its 200 day moving average is $18.32. The stock has a market capitalization of $324.75 million, a PE ratio of 3.38 and a beta of 1.26.

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

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.