Renaissance Technologies LLC Sells 6,700 Shares of Titan Machinery Inc. (NASDAQ:TITN)

Renaissance Technologies LLC lowered its position in shares of Titan Machinery Inc. (NASDAQ:TITN) by 5.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 119,800 shares of the company’s stock after selling 6,700 shares during the period. Renaissance Technologies LLC owned about 0.52% of Titan Machinery worth $1,905,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in Titan Machinery by 6.7% during the first 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 lifted its stake in Titan Machinery by 3.5% during the second 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 holdings in shares of Titan Machinery by 2.9% in the second quarter. Rhumbline Advisers now owns 34,726 shares of the company’s stock worth $552,000 after buying an additional 987 shares during the period. nVerses Capital LLC increased its holdings in shares of Titan Machinery by 118.2% in the second quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock worth $38,000 after buying an additional 1,300 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Titan Machinery by 18.4% in the first quarter. Los Angeles Capital Management LLC now owns 12,347 shares of the company’s stock worth $306,000 after buying an additional 1,920 shares during the period. Institutional investors own 78.38% of the company’s stock.

Titan Machinery Stock Down 1.6 %

Shares of NASDAQ:TITN opened at $13.82 on Thursday. Titan Machinery Inc. has a 1 year low of $12.30 and a 1 year high of $29.30. The company has a market cap of $319.66 million, a PE ratio of 3.32 and a beta of 1.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.27 and a quick ratio of 0.13. The stock’s 50-day moving average is $14.58 and its 200 day moving average is $18.29.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.17 earnings per share (EPS) 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 business had revenue of $633.70 million for the quarter, compared to analysts’ expectations of $645.28 million. During the same quarter in the prior year, the firm earned $1.38 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. Sell-side analysts anticipate that Titan Machinery Inc. will post 0.21 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on TITN shares. Northland Securities reiterated a “market perform” rating and issued a $25.00 price objective on shares of Titan Machinery in a report on Friday, September 13th. B. Riley decreased their price objective on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, September 3rd. Craig Hallum decreased their price objective on Titan Machinery from $25.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Lake Street Capital downgraded Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a report on Thursday, August 15th. Finally, Northland Capmk downgraded Titan Machinery from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.00.

Titan Machinery 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.