Titan Machinery Inc. (NASDAQ:TITN) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. decreased its position in shares of Titan Machinery Inc. (NASDAQ:TITN) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,400 shares of the company’s stock after selling 2,310 shares during the quarter. Alliancebernstein L.P. owned 0.09% of Titan Machinery worth $288,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC grew its holdings in Titan Machinery by 287.0% in the third quarter. Barclays PLC now owns 31,872 shares of the company’s stock valued at $444,000 after purchasing an additional 23,637 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in Titan Machinery by 53.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 25,550 shares of the company’s stock valued at $387,000 after acquiring an additional 8,942 shares in the last quarter. FMR LLC raised its position in Titan Machinery by 142.5% during the third quarter. FMR LLC now owns 5,262 shares of the company’s stock worth $73,000 after acquiring an additional 3,092 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Titan Machinery by 91.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,611 shares of the company’s stock valued at $122,000 after buying an additional 4,103 shares in the last quarter. Finally, Empowered Funds LLC increased its position in Titan Machinery by 5.1% during the fourth quarter. Empowered Funds LLC now owns 20,000 shares of the company’s stock worth $283,000 after buying an additional 962 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Titan Machinery Trading Down 3.0 %

Shares of TITN stock opened at $15.85 on Tuesday. Titan Machinery Inc. has a fifty-two week low of $12.30 and a fifty-two week high of $24.28. The firm’s 50 day moving average price is $16.29 and its two-hundred day moving average price is $15.53. The stock has a market cap of $366.52 million, a price-to-earnings ratio of 11.83 and a beta of 1.27. The company has a quick ratio of 0.15, a current ratio of 1.32 and a debt-to-equity ratio of 0.20.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TITN. Baird R W raised shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 27th. Northland Securities raised shares of Titan Machinery from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a research note on Friday, April 11th. Northland Capmk upgraded Titan Machinery from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. B. Riley assumed coverage on Titan Machinery in a research report on Thursday, March 27th. They issued a “neutral” rating and a $19.00 price objective for the company. Finally, Robert W. Baird lowered their price target on Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Titan Machinery presently has an average rating of “Moderate Buy” and a consensus price target of $19.80.

Insider Buying and Selling

In other news, Chairman David Joseph Meyer purchased 3,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was acquired at an average cost of $16.86 per share, with a total value of $50,580.00. Following the acquisition, the chairman now owns 138,388 shares in the company, valued at approximately $2,333,221.68. This trade represents a 2.22 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders acquired 26,182 shares of company stock valued at $439,661. Company insiders own 10.28% of the company’s stock.

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.