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

Titan Machinery Inc. (NASDAQ:TITN) Chairman David Joseph Meyer acquired 3,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were purchased at an average price of $16.86 per share, for a total transaction of $50,580.00. Following the completion of the transaction, the chairman now directly 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 purchase 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 Friday, March 21st, David Joseph Meyer purchased 22,524 shares of Titan Machinery stock. The stock was acquired at an average price of $16.83 per share, with a total value of $379,078.92.

Titan Machinery Trading Down 0.4 %

Shares of Titan Machinery stock opened at $17.90 on Thursday. 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 firm has a market cap of $413.96 million, a price-to-earnings ratio of 13.36 and a beta of 1.28. Titan Machinery Inc. has a twelve month low of $12.30 and a twelve month high of $24.89. The business has a 50-day moving average price of $16.89 and a 200-day moving average price of $15.20.

Hedge Funds Weigh In On Titan Machinery

Several institutional investors have recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Titan Machinery during the 4th quarter valued at approximately $26,000. Russell Investments Group Ltd. lifted its position in Titan Machinery by 51.2% during the fourth quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company’s stock valued at $37,000 after purchasing an additional 882 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Titan Machinery in the 3rd quarter worth $41,000. US Bancorp DE increased its holdings in shares of Titan Machinery by 23.8% in the 4th quarter. US Bancorp DE now owns 3,861 shares of the company’s stock worth $55,000 after buying an additional 741 shares during the last quarter. Finally, FMR LLC raised its position in shares of Titan Machinery by 142.5% during the 3rd quarter. FMR LLC now owns 5,262 shares of the company’s stock valued at $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 analysts have recently weighed in on TITN shares. Baird R W raised Titan Machinery from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 27th. Robert W. Baird dropped their price target on Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. One investment 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.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.00.

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.