Titan Machinery Inc. (NASDAQ:TITN) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in shares of Titan Machinery Inc. (NASDAQ:TITN) by 4.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 199,450 shares of the company’s stock after selling 8,488 shares during the period. Assenagon Asset Management S.A.’s holdings in Titan Machinery were worth $2,778,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in Titan Machinery during the 2nd quarter worth approximately $36,000. Canada Pension Plan Investment Board acquired a new position in Titan Machinery during the 2nd quarter worth approximately $37,000. nVerses Capital LLC lifted its position in 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 acquiring an additional 1,300 shares in the last quarter. SG Americas Securities LLC acquired a new position in Titan Machinery during the 3rd quarter worth approximately $105,000. Finally, Waterfront Wealth Inc. acquired a new position in shares of Titan Machinery in the 2nd quarter valued at approximately $177,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on TITN. Craig Hallum cut their target price on Titan Machinery from $25.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. B. Riley cut their target price on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 3rd. Northland Securities reaffirmed a “market perform” rating and issued a $25.00 target price on shares of Titan Machinery in a research report on Friday, September 13th. Northland Capmk lowered Titan Machinery from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 20th. Finally, Lake Street Capital lowered Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $21.00.

Titan Machinery Price Performance

Shares of NASDAQ TITN opened at $14.07 on Thursday. Titan Machinery Inc. has a twelve month low of $12.30 and a twelve month high of $29.30. The company has a current ratio of 1.27, a quick ratio of 0.13 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $321.05 million, a price-to-earnings ratio of 3.38 and a beta of 1.26. The business has a 50 day simple moving average of $14.01 and a 200-day simple moving average of $16.90.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.09). Titan Machinery had a net margin of 2.11% and a return on equity of 10.38%. The firm had revenue of $633.70 million during the quarter, compared to the consensus estimate of $645.28 million. During the same quarter last year, the firm posted $1.38 earnings per share. Titan Machinery’s revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts expect that Titan Machinery Inc. will post 0.21 earnings per share for the current year.

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.