Insider Buying: Titan Machinery Inc. (NASDAQ:TITN) Chairman Purchases $379,078.92 in Stock

Titan Machinery Inc. (NASDAQ:TITN) Chairman David Joseph Meyer purchased 22,524 shares of Titan Machinery stock in a transaction on Friday, March 21st. The shares were acquired at an average cost of $16.83 per share, for a total transaction of $379,078.92. Following the purchase, the chairman now owns 135,388 shares in the company, valued at approximately $2,278,580.04. This trade represents a 19.96 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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 stock was acquired at an average price of $16.86 per share, with a total value of $50,580.00.

Titan Machinery Stock Up 0.9 %

TITN opened at $18.07 on Friday. Titan Machinery Inc. has a 1 year low of $12.30 and a 1 year high of $24.89. The firm has a 50 day moving average price of $16.95 and a 200 day moving average price of $15.22. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32. The company has a market cap of $417.89 million, a PE ratio of 13.49 and a beta of 1.28.

Analyst Ratings Changes

Several analysts have commented on TITN shares. Robert W. Baird lowered 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. B. Riley started coverage on shares of Titan Machinery in a research report on Thursday. They set a “neutral” rating and a $19.00 price target for the company. Finally, Baird R W raised shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.80.

Institutional Investors Weigh In On Titan Machinery

Several large investors have recently made changes to their positions in the business. US Bancorp DE lifted its holdings in shares of Titan Machinery by 23.8% during the 4th quarter. US Bancorp DE now owns 3,861 shares of the company’s stock valued at $55,000 after acquiring an additional 741 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Titan Machinery by 51.2% during the fourth quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company’s stock worth $37,000 after purchasing an additional 882 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Titan Machinery by 5.1% in the fourth quarter. Empowered Funds LLC now owns 20,000 shares of the company’s stock worth $283,000 after buying an additional 962 shares during the period. Bridgeway Capital Management LLC grew its stake in shares of Titan Machinery by 5.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 20,000 shares of the company’s stock valued at $283,000 after buying an additional 962 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Titan Machinery by 8.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,655 shares of the company’s stock valued at $208,000 after buying an additional 1,197 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

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.