Titan Machinery Inc. (NASDAQ:TITN) Chairman David Joseph Meyer Acquires 22,524 Shares

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 bought 3,000 shares of Titan Machinery stock. The shares were acquired at an average cost of $16.86 per share, with a total value of $50,580.00.

Titan Machinery Stock Performance

Shares of TITN opened at $17.90 on Thursday. The company has a market cap of $413.96 million, a price-to-earnings ratio of 13.36 and a beta of 1.28. The business’s fifty day simple moving average is $16.89 and its two-hundred day simple moving average is $15.20. Titan Machinery Inc. has a 12 month low of $12.30 and a 12 month high of $24.89. The company has a current ratio of 1.32, a quick ratio of 0.15 and a debt-to-equity ratio of 0.20.

Analysts Set New Price Targets

Several analysts recently weighed in on TITN shares. Baird R W upgraded Titan Machinery from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 27th. Robert W. Baird reduced their price target on Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.00.

Institutional Investors Weigh In On Titan Machinery

Several large investors have recently bought and sold shares of TITN. American Century Companies Inc. lifted its stake in Titan Machinery by 0.5% during the 4th quarter. American Century Companies Inc. now owns 1,229,637 shares of the company’s stock valued at $17,375,000 after acquiring an additional 5,938 shares during the period. Vanguard Group Inc. lifted its position in Titan Machinery by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 1,193,202 shares of the company’s stock valued at $16,860,000 after purchasing an additional 4,955 shares during the period. William Blair Investment Management LLC boosted its holdings in Titan Machinery by 2.0% in the fourth quarter. William Blair Investment Management LLC now owns 920,090 shares of the company’s stock worth $13,001,000 after purchasing an additional 17,689 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Titan Machinery by 5.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 868,401 shares of the company’s stock worth $12,270,000 after purchasing an additional 48,445 shares during the period. Finally, Voss Capital LP raised its stake in Titan Machinery by 141.7% during the 4th quarter. Voss Capital LP now owns 684,459 shares of the company’s stock valued at $9,671,000 after buying an additional 401,302 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

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.