---
title: "Hennessy Advisors Inc. Lowers Position in Titan Machinery Inc. (NASDAQ:TITN)"
description: "Hennessy Advisors Inc. reduced its position in Titan Machinery Inc. by 63.9% in the first quarter, according to its filing with the Securities & Exchange Commission. Other institutional investors and "
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/207577507.md"
published_at: "2024-06-29T09:58:47.000Z"
---

# Hennessy Advisors Inc. Lowers Position in Titan Machinery Inc. (NASDAQ:TITN)

> Hennessy Advisors Inc. reduced its position in Titan Machinery Inc. by 63.9% in the first quarter, according to its filing with the Securities & Exchange Commission. Other institutional investors and hedge funds also made changes to their positions in the company. A director at Titan Machinery bought 55,000 shares of stock. Titan Machinery has received mixed ratings from analysts. The company reported lower than expected earnings for the quarter. The stock price of Titan Machinery has decreased.

Hennessy Advisors Inc. lessened its position in Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 63.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,100 shares of the company's stock after selling 48,000 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.12% of Titan Machinery worth $672,000 as of its most recent filing with the Securities & Exchange Commission.

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Other institutional investors and hedge funds also recently made changes to their positions in the company. Voss Capital LLC raised its stake in Titan Machinery by 11.5% during the fourth quarter. Voss Capital LLC now owns 175,000 shares of the company's stock valued at $5,054,000 after buying an additional 18,017 shares during the last quarter. Quest Partners LLC purchased a new position in Titan Machinery during the fourth quarter valued at $165,000. Charles Schwab Investment Management Inc. raised its stake in Titan Machinery by 6.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 298,292 shares of the company's stock valued at $7,929,000 after buying an additional 17,790 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Titan Machinery during the fourth quarter valued at $301,000. Finally, Dimensional Fund Advisors LP raised its stake 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 last quarter. Hedge funds and other institutional investors own 78.38% of the company's stock.

## Insider Activity at Titan Machinery

In related news, Director David Joseph Meyer bought 55,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average cost of $18.12 per share, for a total transaction of $996,600.00. Following the completion of the transaction, the director now owns 1,805,000 shares of the company's stock, valued at $32,706,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.28% of the stock is owned by company insiders.

## Analyst Upgrades and Downgrades

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

**Read Our Latest Analysis on TITN**

## Titan Machinery Stock Performance

Shares of TITN opened at $15.90 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.29 and a quick ratio of 0.15. Titan Machinery Inc. has a one year low of $15.65 and a one year high of $34.99. The firm has a market capitalization of $362.84 million, a P/E ratio of 3.82 and a beta of 1.39. The business has a fifty day moving average of $19.97 and a 200 day moving average of $23.93.

Titan Machinery (NASDAQ:TITN - Get Free Report) last issued its quarterly earnings data on Thursday, May 23rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.26). The firm had revenue of $628.70 million during the quarter, compared to the consensus estimate of $664.18 million. Titan Machinery had a return on equity of 14.93% and a net margin of 3.37%. As a group, sell-side analysts anticipate that Titan Machinery Inc. will post 2.22 EPS for the current year.

## About Titan Machinery

(Free Report)

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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*This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.*

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
