Titan Machinery Inc. (NASDAQ:TITN) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets trimmed its holdings in shares of Titan Machinery Inc. (NASDAQ:TITN) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,016 shares of the company’s stock after selling 6,494 shares during the period. BNP Paribas Financial Markets owned approximately 0.31% of Titan Machinery worth $1,018,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TITN. R Squared Ltd purchased a new position in shares of Titan Machinery during the fourth quarter worth $26,000. Russell Investments Group Ltd. boosted its stake in shares of Titan Machinery by 51.2% in the fourth quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company’s stock worth $37,000 after buying an additional 882 shares during the last quarter. US Bancorp DE grew its holdings in Titan Machinery by 23.8% during the fourth quarter. US Bancorp DE now owns 3,861 shares of the company’s stock worth $55,000 after acquiring an additional 741 shares during the period. PNC Financial Services Group Inc. raised its position in Titan Machinery by 91.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,611 shares of the company’s stock valued at $122,000 after acquiring an additional 4,103 shares in the last quarter. Finally, Meixler Investment Management Ltd. purchased a new position in Titan Machinery during the fourth quarter valued at approximately $142,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on TITN. 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. Baird R W upgraded shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 27th. Northland Capmk upgraded shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. B. Riley began coverage on shares of Titan Machinery in a research note on Thursday, March 27th. They set a “neutral” rating and a $19.00 target price on the stock. Finally, Robert W. Baird cut their price target on Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.80.

Titan Machinery Stock Performance

NASDAQ:TITN opened at $20.63 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32. The stock has a market capitalization of $476.26 million, a PE ratio of 15.40 and a beta of 1.35. Titan Machinery Inc. has a fifty-two week low of $12.30 and a fifty-two week high of $23.91. The company has a fifty day moving average of $17.09 and a two-hundred day moving average of $16.15.

Insider Transactions at Titan Machinery

In other Titan Machinery news, Chairman David Joseph Meyer bought 3,000 shares of Titan Machinery stock in a transaction dated Monday, March 24th. The stock was acquired at an average cost of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the transaction, the chairman now directly owns 138,388 shares of the company’s stock, valued at approximately $2,333,221.68. This represents a 2.22% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased 26,182 shares of company stock valued at $439,661 over the last 90 days. Corporate insiders own 10.28% of the company’s stock.

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.