Systematic Financial Management LP Makes New $483,000 Investment in Titan Machinery Inc. (NASDAQ:TITN)

Systematic Financial Management LP purchased a new stake in Titan Machinery Inc. (NASDAQ:TITN) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 34,658 shares of the company’s stock, valued at approximately $483,000. Systematic Financial Management LP owned approximately 0.15% of Titan Machinery as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Janus Henderson Group PLC increased its holdings in Titan Machinery by 6.8% in the third quarter. Janus Henderson Group PLC now owns 39,262 shares of the company’s stock valued at $547,000 after buying an additional 2,496 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Titan Machinery by 16.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 583,830 shares of the company’s stock worth $8,133,000 after acquiring an additional 84,330 shares during the period. ArrowMark Colorado Holdings LLC grew its holdings in shares of Titan Machinery by 28.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 341,832 shares of the company’s stock worth $4,762,000 after acquiring an additional 75,710 shares during the period. Verition Fund Management LLC purchased a new position in Titan Machinery in the 3rd quarter valued at approximately $229,000. Finally, BNP Paribas Financial Markets raised its holdings in Titan Machinery by 21.2% during the third quarter. BNP Paribas Financial Markets now owns 78,510 shares of the company’s stock worth $1,094,000 after purchasing an additional 13,757 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Titan Machinery Price Performance

NASDAQ:TITN opened at $14.98 on Friday. Titan Machinery Inc. has a 12-month low of $12.30 and a 12-month high of $29.30. The firm has a market cap of $346.49 million, a price-to-earnings ratio of 11.18 and a beta of 1.30. The company’s 50-day moving average is $14.53 and its two-hundred day moving average is $15.39. The company has a current ratio of 1.27, a quick ratio of 0.13 and a debt-to-equity ratio of 0.18.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings data on Tuesday, November 26th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04. Titan Machinery had a net margin of 1.10% and a return on equity of 5.93%. The business had revenue of $679.80 million for the quarter, compared to the consensus estimate of $675.30 million. During the same quarter in the prior year, the firm posted $1.32 earnings per share. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. Research analysts expect that Titan Machinery Inc. will post 0.05 EPS for the current year.

Analysts Set New Price Targets

TITN has been the topic of several research reports. B. Riley lowered their target price on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, September 3rd. Lake Street Capital cut shares of Titan Machinery from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a research note on Thursday, August 15th. Robert W. Baird cut their target price on shares of Titan Machinery from $18.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Northland Securities reaffirmed a “market perform” rating and issued a $25.00 price target on shares of Titan Machinery in a report on Friday, September 13th. Finally, Craig Hallum dropped their price objective on shares of Titan Machinery from $25.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Titan Machinery presently has an average rating of “Hold” and an average price target of $21.00.

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.