Jane Street Group LLC Grows Position in Titan Machinery Inc. (NASDAQ:TITN)

Jane Street Group LLC raised its position in Titan Machinery Inc. (NASDAQ:TITN) by 122.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,375 shares of the company’s stock after acquiring an additional 30,997 shares during the quarter. Jane Street Group LLC’s holdings in Titan Machinery were worth $785,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TITN. Rhumbline Advisers lifted 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 raised its stake in Titan Machinery by 118.2% in the second quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock valued at $38,000 after buying an additional 1,300 shares in the last quarter. US Bancorp DE lifted its holdings in 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 buying an additional 1,677 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Titan Machinery during the 2nd quarter worth about $37,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Titan Machinery by 6.8% in the 3rd quarter. Janus Henderson Group PLC now owns 39,262 shares of the company’s stock valued at $547,000 after acquiring an additional 2,496 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Titan Machinery Stock Down 2.0 %

TITN opened at $13.85 on Friday. The stock has a market capitalization of $320.30 million, a P/E ratio of 10.34 and a beta of 1.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32. Titan Machinery Inc. has a one year low of $12.30 and a one year high of $28.44. The business’s 50-day simple moving average is $14.56 and its 200-day simple moving average is $14.83.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings data on Tuesday, November 26th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. The company had revenue of $679.80 million during the quarter, compared to analysts’ expectations of $675.30 million. Titan Machinery had a return on equity of 5.91% and a net margin of 1.10%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.32 earnings per share. Analysts anticipate that Titan Machinery Inc. will post 0.05 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Northland Securities restated a “market perform” rating and set a $25.00 target price on shares of Titan Machinery in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Titan Machinery presently has a consensus rating of “Hold” and a consensus price target of $21.00.

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.