Titan Machinery Inc. (NASDAQ:TITN) Chairman David Joseph Meyer Acquires 22,524 Shares

Titan Machinery Inc. (NASDAQ:TITN) Chairman David Joseph Meyer bought 22,524 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average price of $16.83 per share, for a total transaction of $379,078.92. Following the acquisition, the chairman now directly owns 135,388 shares in the company, valued at approximately $2,278,580.04. This trade represents a 19.96 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, March 24th, David Joseph Meyer purchased 3,000 shares of Titan Machinery stock. The stock was acquired at an average cost of $16.86 per share, for a total transaction of $50,580.00.

Titan Machinery Stock Up 1.2 %

Shares of Titan Machinery stock opened at $17.98 on Wednesday. The business has a fifty day simple moving average of $16.84 and a 200 day simple moving average of $15.18. The stock has a market cap of $415.81 million, a PE ratio of 13.42 and a beta of 1.28. The company has a quick ratio of 0.15, a current ratio of 1.32 and a debt-to-equity ratio of 0.20. Titan Machinery Inc. has a 12 month low of $12.30 and a 12 month high of $24.89.

Institutional Investors Weigh In On Titan Machinery

Several large investors have recently modified their holdings of the business. R Squared Ltd bought a new stake in shares of Titan Machinery in the fourth quarter valued at about $26,000. Russell Investments Group Ltd. raised its position in Titan Machinery by 51.2% in the 4th quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company’s stock valued at $37,000 after buying an additional 882 shares during the last quarter. Truvestments Capital LLC bought a new stake in Titan Machinery in the 3rd quarter valued at approximately $41,000. US Bancorp DE boosted its position in Titan Machinery by 23.8% during the 4th 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 last quarter. Finally, FMR LLC grew its stake in shares of Titan Machinery by 142.5% during the 3rd quarter. FMR LLC now owns 5,262 shares of the company’s stock worth $73,000 after acquiring an additional 3,092 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TITN has been the subject of a number of research analyst reports. Robert W. Baird cut their price objective on shares of Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Baird R W raised 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 given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.00.

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.