Titan Machinery Inc. (NASDAQ:TITN) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in Titan Machinery Inc. (NASDAQ:TITN) by 1.9% in the third quarter, Holdings Channel reports. The fund owned 356,081 shares of the company’s stock after selling 6,930 shares during the period. Victory Capital Management Inc.’s holdings in Titan Machinery were worth $4,960,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its position in shares of Titan Machinery by 6.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,789 shares of the company’s stock worth $318,000 after purchasing an additional 802 shares during the last quarter. SummerHaven Investment Management LLC increased its position in shares of Titan Machinery by 3.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 24,475 shares of the company’s stock worth $389,000 after purchasing an additional 818 shares during the last quarter. Rhumbline Advisers increased its position in shares of Titan Machinery by 2.9% during the 2nd quarter. Rhumbline Advisers now owns 34,726 shares of the company’s stock worth $552,000 after purchasing an additional 987 shares during the last quarter. nVerses Capital LLC increased its position in shares of Titan Machinery by 118.2% during the 2nd quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock worth $38,000 after purchasing an additional 1,300 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Titan Machinery by 116.2% during the 3rd quarter. US Bancorp DE now owns 3,120 shares of the company’s stock worth $43,000 after purchasing an additional 1,677 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Titan Machinery Stock Performance

Shares of TITN opened at $15.14 on Friday. The stock has a 50-day simple moving average of $14.20 and a 200-day simple moving average of $15.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.13 and a current ratio of 1.27. The stock has a market capitalization of $350.16 million, a PE ratio of 5.85 and a beta of 1.25. Titan Machinery Inc. has a 1 year low of $12.30 and a 1 year high of $29.30.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.09). The company had revenue of $633.70 million during the quarter, compared to analysts’ expectations of $645.28 million. Titan Machinery had a net margin of 2.11% and a return on equity of 10.38%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.38 EPS. On average, analysts predict that Titan Machinery Inc. will post 0.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TITN has been the subject of a number of recent analyst reports. B. Riley cut their price objective on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, September 3rd. Northland Securities restated a “market perform” rating and set a $25.00 target price on shares of Titan Machinery in a report on Friday, September 13th. Lake Street Capital cut Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a report on Thursday, August 15th. Craig Hallum lowered their target price on Titan Machinery from $25.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, Robert W. Baird lowered their target price on Titan Machinery from $18.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.00.

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.