Titan Machinery Inc. $TITN Shares Sold by American Century Companies Inc.

American Century Companies Inc. decreased its holdings in shares of Titan Machinery Inc. (NASDAQ:TITN) by 26.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,157,179 shares of the company’s stock after selling 414,469 shares during the period. American Century Companies Inc. owned approximately 4.95% of Titan Machinery worth $19,371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in TITN. Gabelli Funds LLC lifted its stake in Titan Machinery by 1.1% during the second quarter. Gabelli Funds LLC now owns 95,500 shares of the company’s stock valued at $1,892,000 after purchasing an additional 1,000 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Titan Machinery by 14.6% in the third quarter. PNC Financial Services Group Inc. now owns 8,341 shares of the company’s stock valued at $140,000 after buying an additional 1,063 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Titan Machinery during the 3rd quarter valued at $32,000. Tower Research Capital LLC TRC lifted its position in shares of Titan Machinery by 352.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company’s stock valued at $52,000 after acquiring an additional 2,043 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Titan Machinery by 9.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 25,370 shares of the company’s stock worth $425,000 after acquiring an additional 2,193 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TITN. Wall Street Zen upgraded Titan Machinery from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Titan Machinery in a research report on Thursday, January 22nd. Finally, Robert W. Baird reissued a “neutral” rating and issued a $21.00 price target (down from $24.00) on shares of Titan Machinery in a research note on Monday, December 1st. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.50.

Titan Machinery Stock Down 0.6%

Shares of Titan Machinery stock opened at $17.73 on Wednesday. The firm has a market cap of $414.35 million, a price-to-earnings ratio of -6.52 and a beta of 1.23. The stock has a 50-day simple moving average of $17.63 and a 200-day simple moving average of $17.26. Titan Machinery Inc. has a 52-week low of $12.50 and a 52-week high of $23.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.24.

Titan Machinery Company Profile

Titan Machinery, Inc is a leading full-service dealer specializing in the sale, rental, and servicing of agricultural and construction equipment. The company represents major brands such as Caterpillar, Case IH and New Holland, offering new and pre-owned tractors, combines, excavators, loaders and other heavy machinery. In addition to equipment sales, Titan provides parts distribution, preventative maintenance and field service support to help customers maximize uptime and productivity.

Beyond equipment transactions, Titan Machinery offers a comprehensive suite of support services.