Titan Machinery Inc. (NASDAQ:TITN) Chairman David Joseph Meyer Buys 3,000 Shares

Titan Machinery Inc. (NASDAQ:TITN) Chairman David Joseph Meyer acquired 3,000 shares of Titan Machinery stock in a transaction dated Monday, March 24th. The shares were bought at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the transaction, the chairman now owns 138,388 shares of the company’s stock, valued at approximately $2,333,221.68. The trade was a 2.22 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

David Joseph Meyer also recently made the following trade(s):

• On Friday, March 21st, David Joseph Meyer bought 22,524 shares of Titan Machinery stock. The shares were bought at an average cost of $16.83 per share, with a total value of $379,078.92.

Titan Machinery Trading Up 4.8 %

Shares of NASDAQ TITN traded up $0.85 during mid-day trading on Tuesday, reaching $18.62. The company had a trading volume of 171,136 shares, compared to its average volume of 253,502. The stock has a market cap of $430.61 million, a price-to-earnings ratio of 13.88 and a beta of 1.28. The company has a current ratio of 1.32, a quick ratio of 0.15 and a debt-to-equity ratio of 0.20. Titan Machinery Inc. has a 52 week low of $12.30 and a 52 week high of $24.89. The business’s 50-day moving average is $16.77 and its 200-day moving average is $15.15.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. 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 report on Friday. Baird R W upgraded shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Voss Capital LP lifted its stake in Titan Machinery by 141.7% in the fourth quarter. Voss Capital LP now owns 684,459 shares of the company’s stock worth $9,671,000 after acquiring an additional 401,302 shares during the period. First Eagle Investment Management LLC raised its holdings in shares of Titan Machinery by 42.4% in the 4th quarter. First Eagle Investment Management LLC now owns 634,509 shares of the company’s stock valued at $8,966,000 after purchasing an additional 188,998 shares in the last quarter. CenterBook Partners LP purchased a new position in Titan Machinery during the fourth quarter valued at approximately $1,438,000. Hotchkis & Wiley Capital Management LLC boosted its position in Titan Machinery by 16.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 583,830 shares of the company’s stock valued at $8,133,000 after acquiring an additional 84,330 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC grew its stake in Titan Machinery by 28.4% in the third quarter. ArrowMark Colorado Holdings LLC now owns 341,832 shares of the company’s stock valued at $4,762,000 after purchasing an additional 75,710 shares during the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

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.