Franklin Resources Inc. purchased a new position in Titan Machinery Inc. (NASDAQ:TITN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 100,000 shares of the company’s stock, valued at approximately $1,457,000.
A number of other hedge funds also recently modified their holdings of the company. US Bancorp DE boosted its stake in shares of Titan Machinery by 142.0% in the third quarter. US Bancorp DE now owns 11,236 shares of the company’s stock worth $117,000 after buying an additional 6,593 shares during the last quarter. Ingalls & Snyder LLC bought a new stake in shares of Titan Machinery during the third quarter worth approximately $131,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Titan Machinery during the fourth quarter worth approximately $174,000. A.R.T. Advisors LLC bought a new stake in shares of Titan Machinery during the fourth quarter worth approximately $186,000. Finally, Alambic Investment Management L.P. boosted its stake in shares of Titan Machinery by 20.9% in the third quarter. Alambic Investment Management L.P. now owns 20,235 shares of the company’s stock worth $210,000 after buying an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 85.40% of the company’s stock.
Titan Machinery Inc. (NASDAQ:TITN) opened at 13.52 on Wednesday. The stock has a 50 day moving average price of $13.81 and a 200-day moving average price of $12.57. The company’s market cap is $286.87 million. Titan Machinery Inc. has a 1-year low of $8.68 and a 1-year high of $15.93.
A number of analysts have commented on TITN shares. Aegis started coverage on Titan Machinery in a research report on Tuesday, January 10th. They issued a “buy” rating and a $18.00 price target for the company. Zacks Investment Research raised Titan Machinery from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, February 15th. Finally, Standpoint Research lowered Titan Machinery from a “buy” rating to a “hold” rating in a research note on Friday, December 2nd.
Titan Machinery Company Profile
Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services, and equipment rental and other activities.
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