William Blair Investment Management LLC Has $10.45 Million Stock Holdings in Titan Machinery Inc. $TITN

William Blair Investment Management LLC cut its holdings in Titan Machinery Inc. (NASDAQ:TITN) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 695,104 shares of the company’s stock after selling 74,931 shares during the period. William Blair Investment Management LLC owned about 2.97% of Titan Machinery worth $10,454,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. grew its holdings in shares of Titan Machinery by 16.0% in the 3rd quarter. Bessemer Group Inc. now owns 588,215 shares of the company’s stock valued at $9,846,000 after acquiring an additional 81,229 shares in the last quarter. Teton Advisors LLC acquired a new position in shares of Titan Machinery during the 3rd quarter worth approximately $1,440,000. Royce & Associates LP increased its holdings in shares of Titan Machinery by 12.8% in the third quarter. Royce & Associates LP now owns 626,067 shares of the company’s stock valued at $10,480,000 after purchasing an additional 70,992 shares during the last quarter. Stephens Investment Management Group LLC grew its stake in Titan Machinery by 30.0% in the 4th quarter. Stephens Investment Management Group LLC now owns 559,589 shares of the company’s stock valued at $8,416,000 after buying an additional 129,215 shares during the last quarter. Finally, EVR Research LP increased its stake in shares of Titan Machinery by 25.0% during the third quarter. EVR Research LP now owns 250,000 shares of the company’s stock worth $4,185,000 after purchasing an additional 50,000 shares during the period. Institutional investors own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

TITN has been the topic of a number of recent research reports. Robert W. Baird lowered their price target on shares of Titan Machinery from $21.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 20th. Wall Street Zen downgraded Titan Machinery from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $17.00.

Titan Machinery Price Performance

Shares of NASDAQ:TITN opened at $19.98 on Wednesday. Titan Machinery Inc. has a one year low of $13.21 and a one year high of $21.91. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.41 and a quick ratio of 0.24. The company has a market cap of $465.71 million, a price-to-earnings ratio of -8.39 and a beta of 1.38. The firm has a 50 day simple moving average of $18.87 and a 200 day simple moving average of $17.68.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings results on Thursday, March 19th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.44). Titan Machinery had a negative return on equity of 8.40% and a negative net margin of 2.23%.The company had revenue of $641.83 million for the quarter, compared to analyst estimates of $615.53 million. Research analysts predict that Titan Machinery Inc. will post -1.73 earnings per share for the current fiscal year.

Titan Machinery Company Profile

Titan Machinery, Inc is a leading full-service dealer specializing in the sale, rental, and servicing of agricultural and construction equipment. The company represents major brands such as Caterpillar, Case IH and New Holland, offering new and pre-owned tractors, combines, excavators, loaders and other heavy machinery. In addition to equipment sales, Titan provides parts distribution, preventative maintenance and field service support to help customers maximize uptime and productivity.

Beyond equipment transactions, Titan Machinery offers a comprehensive suite of support services.