Kennedy Capital Management Inc. cut its stake in Titan Machinery Inc. (NASDAQ:TITN) by 29.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 183,515 shares of the company’s stock after selling 75,359 shares during the period. Kennedy Capital Management Inc. owned 0.83% of Titan Machinery worth $3,885,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC grew its position in shares of Titan Machinery by 31.9% during the 4th quarter. Geode Capital Management LLC now owns 187,313 shares of the company’s stock worth $3,965,000 after buying an additional 45,258 shares during the period. Investors Research Corp acquired a new position in Titan Machinery during the fourth quarter valued at approximately $1,114,000. EAM Investors LLC acquired a new position in Titan Machinery during the fourth quarter valued at approximately $2,279,000. Arrowstreet Capital Limited Partnership grew its holdings in Titan Machinery by 219.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 124,731 shares of the company’s stock valued at $2,641,000 after purchasing an additional 85,699 shares during the period. Finally, Systematic Financial Management LP acquired a new position in Titan Machinery during the fourth quarter valued at approximately $14,904,000. 78.69% of the stock is owned by institutional investors.
Shares of Titan Machinery Inc. (TITN) opened at $21.01 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 0.33 and a debt-to-equity ratio of 0.31. Titan Machinery Inc. has a 1 year low of $11.68 and a 1 year high of $24.19.
In other news, CEO David Joseph Meyer sold 61,796 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $21.85, for a total value of $1,350,242.60. Following the sale, the chief executive officer now owns 715,864 shares of the company’s stock, valued at $15,641,628.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 16.08% of the company’s stock.
Titan Machinery 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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