206,341 Shares in Titan Machinery Inc. (TITN) Acquired by Russell Investments Group Ltd.

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Russell Investments Group Ltd. acquired a new stake in Titan Machinery Inc. (NASDAQ:TITN) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 206,341 shares of the company’s stock, valued at approximately $3,016,000.

A number of other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Titan Machinery by 1.3% in the third quarter. JPMorgan Chase & Co. now owns 871,875 shares of the company’s stock valued at $9,067,000 after buying an additional 11,419 shares in the last quarter. Rutabaga Capital Management LLC MA increased its stake in Titan Machinery by 4.1% in the third quarter. Rutabaga Capital Management LLC MA now owns 519,750 shares of the company’s stock valued at $4,828,000 after buying an additional 20,650 shares in the last quarter. Alambic Investment Management L.P. increased its stake in Titan Machinery by 20.9% in the third quarter. Alambic Investment Management L.P. now owns 20,235 shares of the company’s stock valued at $210,000 after buying an additional 3,500 shares in the last quarter. US Bancorp DE increased its stake in Titan Machinery by 142.0% in the third quarter. US Bancorp DE now owns 11,236 shares of the company’s stock valued at $117,000 after buying an additional 6,593 shares in the last quarter. Finally, Ingalls & Snyder LLC purchased a new stake in Titan Machinery during the third quarter valued at about $131,000. 85.40% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Titan Machinery (NASDAQ:TITN)

Shares of Titan Machinery Inc. (NASDAQ:TITN) opened at 14.24 on Friday. The firm has a 50 day moving average price of $13.81 and a 200 day moving average price of $12.50. The firm’s market cap is $302.14 million. Titan Machinery Inc. has a 1-year low of $8.68 and a 1-year high of $15.93.

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Several research firms have issued reports on TITN. Zacks Investment Research raised Titan Machinery from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Wednesday, February 15th. Standpoint Research downgraded Titan Machinery from a “buy” rating to a “hold” rating in a research note on Friday, December 2nd. Finally, Aegis began coverage on Titan Machinery in a research note on Tuesday, January 10th. They issued a “buy” rating and a $18.00 price target on the stock.

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.

5 Day Chart for NASDAQ:TITN

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Source: einnews.com