Titan Machinery Inc. (NASDAQ:TITN) Chairman Buys $50,580.00 in Stock

Titan Machinery Inc. (NASDAQ:TITN) Chairman David Joseph Meyer purchased 3,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were bought at an average price 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 $2,333,221.68. The trade was a 2.22 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 shares were purchased at an average cost of $16.83 per share, with a total value of $379,078.92.

Titan Machinery Stock Up 0.9 %

TITN stock opened at $18.07 on Friday. Titan Machinery Inc. has a twelve month low of $12.30 and a twelve month high of $24.89. The firm has a market capitalization of $417.89 million, a PE ratio of 13.49 and a beta of 1.28. 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 stock has a 50-day simple moving average of $16.95 and a two-hundred day simple moving average of $15.22.

Wall Street Analyst Weigh In

Several analysts have issued reports on TITN shares. B. Riley started coverage on Titan Machinery in a research note on Thursday. They issued a “neutral” rating and a $19.00 target price on the stock. Baird R W upgraded Titan Machinery from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Robert W. Baird cut their target price on shares of Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. One equities 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 company. According to data from MarketBeat.com, Titan Machinery presently has a consensus rating of “Hold” and an average target price of $19.80.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of Titan Machinery in the 4th quarter worth about $26,000. Russell Investments Group Ltd. boosted its stake in Titan Machinery by 51.2% in the fourth quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company’s stock worth $37,000 after buying an additional 882 shares in the last quarter. Truvestments Capital LLC bought a new position in Titan Machinery during the third quarter valued at approximately $41,000. US Bancorp DE raised its stake in shares of Titan Machinery by 23.8% during the fourth quarter. US Bancorp DE now owns 3,861 shares of the company’s stock worth $55,000 after acquiring an additional 741 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Titan Machinery by 142.5% during the third quarter. FMR LLC now owns 5,262 shares of the company’s stock worth $73,000 after acquiring an additional 3,092 shares in the last quarter. Institutional investors 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.