David Joseph Meyer Acquires 3,000 Shares of Titan Machinery Inc. (NASDAQ:TITN) Stock

Titan Machinery Inc. (NASDAQ:TITN) Chairman David Joseph Meyer acquired 3,000 shares of the company’s stock in a transaction on Monday, March 24th. The shares were purchased at an average cost of $16.86 per share, with a total value of $50,580.00. Following the completion of the purchase, the chairman now directly owns 138,388 shares of the company’s stock, valued at $2,333,221.68. This trade 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 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 stock was purchased at an average price of $16.83 per share, with a total value of $379,078.92.

Titan Machinery Stock Down 0.4 %

Shares of NASDAQ TITN opened at $17.90 on Thursday. Titan Machinery Inc. has a 52-week low of $12.30 and a 52-week high of $24.89. The firm has a market capitalization of $413.96 million, a price-to-earnings ratio of 13.36 and a beta of 1.28. The stock has a 50 day moving average price of $16.89 and a 200 day moving average price of $15.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32.

Analysts Set New Price Targets

A number of research firms recently weighed in on TITN. Robert W. Baird reduced their price objective on shares of Titan Machinery from $25.00 to $24.00 and set an “outperform” rating on the stock 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 research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.00.

Institutional Investors Weigh In On Titan Machinery

Hedge funds have recently made changes to their positions in the company. Systematic Financial Management LP bought a new stake in shares of Titan Machinery in the third quarter valued at about $483,000. ArrowMark Colorado Holdings LLC increased its position in Titan Machinery by 28.4% during the 3rd 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 period. Sanctuary Advisors LLC raised its holdings in shares of Titan Machinery by 53.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 25,550 shares of the company’s stock valued at $387,000 after purchasing an additional 8,942 shares in the last quarter. Barclays PLC lifted its position in shares of Titan Machinery by 287.0% in the 3rd quarter. Barclays PLC now owns 31,872 shares of the company’s stock worth $444,000 after purchasing an additional 23,637 shares during the period. Finally, FMR LLC boosted its stake in shares of Titan Machinery by 142.5% during the third quarter. FMR LLC now owns 5,262 shares of the company’s stock valued at $73,000 after purchasing an additional 3,092 shares in the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Titan Machinery Company Profile

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.