Titan International, Inc. (NYSE:TWI) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC increased its holdings in shares of Titan International, Inc. (NYSE:TWI) by 130.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,518 shares of the industrial products company’s stock after acquiring an additional 7,087 shares during the period. GAMMA Investing LLC’s holdings in Titan International were worth $105,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of TWI. Victory Capital Management Inc. grew its holdings in Titan International by 21.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,953,866 shares of the industrial products company’s stock valued at $13,267,000 after purchasing an additional 344,658 shares during the last quarter. Kennedy Capital Management LLC acquired a new stake in Titan International in the fourth quarter valued at $1,482,000. First Eagle Investment Management LLC acquired a new stake in Titan International in the fourth quarter valued at $1,211,000. Jane Street Group LLC grew its holdings in Titan International by 105.6% in the fourth quarter. Jane Street Group LLC now owns 313,415 shares of the industrial products company’s stock valued at $2,128,000 after purchasing an additional 160,975 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Titan International in the fourth quarter valued at $862,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

Insider Buying and Selling at Titan International

In other news, CAO Anthony Eheli sold 25,000 shares of the company’s stock in a transaction on Friday, June 20th. The stock was sold at an average price of $9.24, for a total value of $231,000.00. Following the sale, the chief accounting officer directly owned 45,276 shares in the company, valued at $418,350.24. This represents a 35.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard M. Cashin, Jr. sold 212,398 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $10.34, for a total value of $2,196,195.32. Following the transaction, the director owned 176,461 shares in the company, valued at $1,824,606.74. This trade represents a 54.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 301,348 shares of company stock worth $3,086,520 over the last 90 days. Company insiders own 32.50% of the company’s stock.

Analyst Upgrades and Downgrades

TWI has been the topic of several research reports. Wall Street Zen raised Titan International from a “sell” rating to a “hold” rating in a report on Thursday, May 8th. Noble Financial initiated coverage on Titan International in a report on Wednesday, June 4th. They issued an “outperform” rating and a $11.00 target price on the stock. Finally, Cantor Fitzgerald began coverage on Titan International in a report on Thursday, March 20th. They issued an “overweight” rating and a $11.00 target price on the stock.

Titan International Stock Down 1.3%

Shares of NYSE:TWI opened at $10.72 on Monday. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 1.06. Titan International, Inc. has a 52-week low of $5.93 and a 52-week high of $10.94. The stock’s fifty day simple moving average is $8.20 and its 200-day simple moving average is $7.97. The company has a market capitalization of $682.86 million, a P/E ratio of -51.05 and a beta of 2.03.

Titan International (NYSE:TWI) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). Titan International had a negative net margin of 0.83% and a negative return on equity of 0.05%. The company had revenue of $490.71 million during the quarter, compared to analysts’ expectations of $466.86 million. As a group, equities research analysts forecast that Titan International, Inc. will post 0.03 earnings per share for the current fiscal year.

About Titan International

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in the United States and internationally. The company operates in Agricultural, Earthmoving/Construction, and Consumer segments. It offers wheels, tires, and undercarriage systems and components for various agricultural equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment.