David Joseph Meyer Buys 3,000 Shares of Titan Machinery Inc. (NASDAQ:TITN) Stock

Titan Machinery Inc. (NASDAQ:TITN) Chairman David Joseph Meyer purchased 3,000 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was purchased at an average cost of $16.86 per share, with a total value of $50,580.00. Following the purchase, the chairman now owns 138,388 shares in the company, valued at approximately $2,333,221.68. This trade represents a 2.22 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

David Joseph Meyer also recently made the following trade(s):

• On Friday, March 21st, David Joseph Meyer acquired 22,524 shares of Titan Machinery stock. The stock was acquired at an average price of $16.83 per share, for a total transaction of $379,078.92.

Titan Machinery Stock Up 1.2 %

Shares of NASDAQ TITN opened at $17.98 on Wednesday. The company has a quick ratio of 0.15, a current ratio of 1.32 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $16.84 and its two-hundred day moving average is $15.18. Titan Machinery Inc. has a 52-week low of $12.30 and a 52-week high of $24.89. The firm has a market cap of $415.81 million, a price-to-earnings ratio of 13.42 and a beta of 1.28.

Institutional Investors Weigh In On Titan Machinery

Several institutional investors and hedge funds have recently modified their holdings of the company. Systematic Financial Management LP acquired a new position in Titan Machinery in the 3rd quarter valued at about $483,000. ArrowMark Colorado Holdings LLC boosted its stake in shares of Titan Machinery by 28.4% in the third quarter. ArrowMark Colorado Holdings LLC now owns 341,832 shares of the company’s stock valued at $4,762,000 after purchasing an additional 75,710 shares during the period. Sanctuary Advisors LLC grew its holdings in shares of Titan Machinery by 53.8% in the third quarter. Sanctuary Advisors LLC now owns 25,550 shares of the company’s stock valued at $387,000 after purchasing an additional 8,942 shares in the last quarter. Barclays PLC increased its stake in Titan Machinery by 287.0% during the 3rd quarter. Barclays PLC now owns 31,872 shares of the company’s stock worth $444,000 after buying an additional 23,637 shares during the period. Finally, FMR LLC lifted its holdings in Titan Machinery by 142.5% during the 3rd quarter. FMR LLC now owns 5,262 shares of the company’s stock worth $73,000 after buying an additional 3,092 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Analyst Ratings Changes

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

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.