Peregrine Capital Management LLC Sells 7,559 Shares of Titan Machinery Inc. (NASDAQ:TITN)

Peregrine Capital Management LLC reduced its stake in Titan Machinery Inc. (NASDAQ:TITN) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,324 shares of the company’s stock after selling 7,559 shares during the quarter. Peregrine Capital Management LLC owned 0.89% of Titan Machinery worth $2,901,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. English Capital Management LLC lifted its stake in Titan Machinery by 84.9% in the 3rd quarter. English Capital Management LLC now owns 278,853 shares of the company’s stock valued at $3,884,000 after acquiring an additional 128,073 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Titan Machinery by 16.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 583,830 shares of the company’s stock valued at $8,133,000 after purchasing an additional 84,330 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its position 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 worth $4,762,000 after purchasing an additional 75,710 shares in the last quarter. Systematic Financial Management LP acquired a new position in Titan Machinery during the third quarter worth $483,000. Finally, Jane Street Group LLC grew its position in Titan Machinery by 122.1% in the third quarter. Jane Street Group LLC now owns 56,375 shares of the company’s stock valued at $785,000 after purchasing an additional 30,997 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Titan Machinery Stock Performance

Shares of TITN opened at $19.17 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15. The firm has a 50-day moving average of $15.90 and a 200-day moving average of $14.92. The company has a market cap of $443.33 million, a PE ratio of 14.31 and a beta of 1.31. Titan Machinery Inc. has a one year low of $12.30 and a one year high of $27.13.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings results on Tuesday, November 26th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. The firm had revenue of $679.80 million for the quarter, compared to the consensus estimate of $675.30 million. Titan Machinery had a return on equity of 5.91% and a net margin of 1.10%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.32 earnings per share.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Baird R W raised shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 27th. Robert W. Baird upgraded Titan Machinery from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $14.00 to $25.00 in a report on Monday, January 27th. 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 assigned a strong buy rating to the stock. According to MarketBeat, Titan Machinery presently has a consensus rating of “Hold” and an average target price of $19.20.

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.