Short Interest in Titan Machinery Inc. (NASDAQ:TITN) Increases By 42.2%

Titan Machinery Inc. (NASDAQ:TITN - Get Free Report) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 566,700 shares, a growth of 42.2% from the May 31st total of 398,600 shares. Approximately 2.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 245,500 shares, the days-to-cover ratio is presently 2.3 days.

Insider Activity

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In other Titan Machinery news, Director David Joseph Meyer bought 55,000 shares of the firm's stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average cost of $18.12 per share, for a total transaction of $996,600.00. Following the transaction, the director now owns 1,805,000 shares of the company's stock, valued at $32,706,600. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 10.28% of the company's stock.

Hedge Funds Weigh In On Titan Machinery

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in Titan Machinery by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,783,274 shares of the company's stock valued at $51,501,000 after buying an additional 22,176 shares during the period. Vanguard Group Inc. increased its holdings in Titan Machinery by 0.8% during the first quarter. Vanguard Group Inc. now owns 1,164,276 shares of the company's stock valued at $28,886,000 after buying an additional 9,548 shares during the period. American Century Companies Inc. increased its holdings in Titan Machinery by 241.0% during the third quarter. American Century Companies Inc. now owns 721,521 shares of the company's stock valued at $19,178,000 after buying an additional 509,919 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Titan Machinery by 9.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 327,011 shares of the company's stock valued at $9,444,000 after buying an additional 28,719 shares during the period. Finally, Sei Investments Co. increased its holdings in Titan Machinery by 5.6% during the first quarter. Sei Investments Co. now owns 286,964 shares of the company's stock valued at $7,120,000 after buying an additional 15,163 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.

Titan Machinery Trading Down 0.5 %

Shares of Titan Machinery stock traded down $0.08 on Friday, hitting $15.90. 547,747 shares of the company traded hands, compared to its average volume of 233,638. The stock's 50 day moving average price is $19.97 and its 200-day moving average price is $23.92. The company has a current ratio of 1.29, a quick ratio of 0.15 and a debt-to-equity ratio of 0.16. Titan Machinery has a 52 week low of $15.65 and a 52 week high of $34.99. The company has a market cap of $362.81 million, a PE ratio of 3.82 and a beta of 1.39.

Titan Machinery (NASDAQ:TITN - Get Free Report) last posted its quarterly earnings results on Thursday, May 23rd. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.26). The company had revenue of $628.70 million for the quarter, compared to the consensus estimate of $664.18 million. Titan Machinery had a net margin of 3.37% and a return on equity of 14.93%. Equities research analysts predict that Titan Machinery will post 2.22 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Craig Hallum decreased their price objective on shares of Titan Machinery from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, May 24th. B. Riley downgraded shares of Titan Machinery from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $32.00 to $20.00 in a research note on Wednesday, June 5th. StockNews.com downgraded shares of Titan Machinery from a "hold" rating to a "sell" rating in a research note on Friday, May 24th. Finally, Robert W. Baird decreased their price objective on shares of Titan Machinery from $24.00 to $18.00 and set a "neutral" rating for the company in a research note on Friday, May 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $31.00.

Read Our Latest Report on TITN

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.

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