Titan Machinery Inc. (NASDAQ:TITN) Chairman Purchases $379,078.92 in Stock

Titan Machinery Inc. (NASDAQ:TITN) Chairman David Joseph Meyer purchased 22,524 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average cost of $16.83 per share, with a total value of $379,078.92. Following the completion of the transaction, the chairman now owns 135,388 shares in the company, valued at $2,278,580.04. This trade represents a 19.96 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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 purchased at an average price of $16.86 per share, for a total transaction of $50,580.00.

Titan Machinery Stock Performance

Shares of TITN stock traded up $0.85 during mid-day trading on Tuesday, reaching $18.62. 171,136 shares of the company’s stock traded hands, compared to its average volume of 253,502. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32. The firm has a market capitalization of $430.61 million, a PE ratio of 13.88 and a beta of 1.28. Titan Machinery Inc. has a 12 month low of $12.30 and a 12 month high of $24.89. The firm has a 50 day moving average price of $16.77 and a two-hundred day moving average price of $15.15.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Baird R W raised Titan Machinery from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 27th. Robert W. Baird lowered their target price on shares of Titan Machinery from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Titan Machinery presently has an average rating of “Hold” and an average price target of $19.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE lifted its stake in Titan Machinery by 23.8% in the fourth quarter. US Bancorp DE now owns 3,861 shares of the company’s stock worth $55,000 after purchasing an additional 741 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Titan Machinery by 51.2% in the fourth quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company’s stock worth $37,000 after buying an additional 882 shares during the period. Empowered Funds LLC lifted its stake in shares of Titan Machinery by 5.1% during the 4th quarter. Empowered Funds LLC now owns 20,000 shares of the company’s stock worth $283,000 after acquiring an additional 962 shares during the last quarter. Bridgeway Capital Management LLC grew its position in Titan Machinery by 5.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 20,000 shares of the company’s stock valued at $283,000 after acquiring an additional 962 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Titan Machinery by 8.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,655 shares of the company’s stock worth $208,000 after purchasing an additional 1,197 shares during the period. 78.38% of the stock is 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.