UBS Group AG Has $1.73 Million Stock Position in Titan Machinery Inc. (NASDAQ:TITN)

Jan 18, 2024

UBS Group AG grew its stake in shares of Titan Machinery Inc. (NASDAQ:TITN - Get Rating) by 78.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,423 shares of the company's stock after purchasing an additional 19,055 shares during the period. UBS Group AG owned approximately 0.19% of Titan Machinery worth $1,725,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI acquired a new position in shares of Titan Machinery during the fourth quarter valued at about $30,000. Point72 Hong Kong Ltd acquired a new position in shares of Titan Machinery during the first quarter valued at about $54,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Titan Machinery in the 3rd quarter worth about $113,000. Group One Trading L.P. raised its holdings in shares of Titan Machinery by 91.5% in the 3rd quarter. Group One Trading L.P. now owns 4,147 shares of the company's stock worth $117,000 after acquiring an additional 1,982 shares during the last quarter. Finally, LPL Financial LLC acquired a new stake in shares of Titan Machinery in the 4th quarter worth about $227,000. Institutional investors and hedge funds own 81.30% of the company's stock.

TITN has been the topic of a number of analyst reports. StockNews.com initiated coverage on shares of Titan Machinery in a report on Thursday, May 18th. They issued a "hold" rating on the stock. B. Riley reduced their target price on shares of Titan Machinery from $48.00 to $44.00 in a research report on Wednesday, May 31st. Finally, Robert W. Baird dropped their price target on shares of Titan Machinery from $40.00 to $30.00 and set a "neutral" rating on the stock in a research note on Thursday, March 16th.

In other Titan Machinery news, Director Stan K. Erickson bought 3,000 shares of Titan Machinery stock in a transaction that occurred on Tuesday, March 21st. The shares were bought at an average price of $29.67 per share, with a total value of $89,010.00. Following the acquisition, the director now owns 39,031 shares in the company, valued at $1,158,049.77. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.51% of the stock is owned by insiders.

NASDAQ TITN opened at $28.06 on Wednesday. Titan Machinery Inc. has a 1 year low of $21.50 and a 1 year high of $47.87. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 0.29. The stock has a market capitalization of $635.84 million, a PE ratio of 5.71 and a beta of 1.65. The company's 50 day simple moving average is $30.51 and its two-hundred day simple moving average is $36.98.

Titan Machinery (NASDAQ:TITN - Get Rating) last posted its quarterly earnings data on Thursday, May 25th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.19. The firm had revenue of $569.60 million for the quarter, compared to analysts' expectations of $595.52 million. Titan Machinery had a net margin of 4.80% and a return on equity of 21.43%. The business's quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter last year, the company posted $0.79 EPS. Analysts predict that Titan Machinery Inc. will post 4.77 earnings per share for the current fiscal year.

Titan Machinery, Inc engages in the management of agricultural and construction equipment stores. It operates through the following segments: Agriculture, Construction and International. The Agriculture segment sells services and rents machinery and related parts and attachments, for uses from large-scale farming to home and garden use in North America.

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