Boothbay Fund Management LLC Takes Position in Titan International, Inc. (NYSE:TWI)

Posted by on Mar 6th, 2023

Boothbay Fund Management LLC bought a new position in shares of Titan International, Inc. (NYSE:TWI – Get Rating) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,262 shares of the industrial products company’s stock, valued at approximately $185,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC purchased a new position in shares of Titan International during the 2nd quarter worth about $13,963,000. Driehaus Capital Management LLC increased its holdings in Titan International by 85.3% in the 2nd quarter. Driehaus Capital Management LLC now owns 879,000 shares of the industrial products company’s stock valued at $13,273,000 after purchasing an additional 404,510 shares in the last quarter. Vanguard Group Inc. raised its position in Titan International by 8.1% in the first quarter. Vanguard Group Inc. now owns 3,557,173 shares of the industrial products company’s stock valued at $52,397,000 after purchasing an additional 265,300 shares during the period. Prudential Financial Inc. lifted its stake in shares of Titan International by 59.8% during the third quarter. Prudential Financial Inc. now owns 616,927 shares of the industrial products company’s stock worth $7,489,000 after purchasing an additional 230,835 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Titan International by 139.2% in the third quarter. The Manufacturers Life Insurance Company now owns 326,928 shares of the industrial products company’s stock worth $3,969,000 after buying an additional 190,274 shares during the period. 79.43% of the stock is owned by institutional investors and hedge funds.

Titan International Stock Performance

Shares of NYSE:TWI opened at $13.39 on Monday. The business’s 50-day simple moving average is $15.62 and its 200 day simple moving average is $14.59. The company has a market cap of $841.83 million, a P/E ratio of 4.83 and a beta of 2.22. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.15 and a current ratio of 2.04. Titan International, Inc. has a one year low of $10.85 and a one year high of $19.81.

Insider Buying and Selling at Titan International

In other news, General Counsel Michael G. Troyanovich sold 40,000 shares of the business’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $15.10, for a total transaction of $604,000.00. Following the transaction, the general counsel now directly owns 113,785 shares of the company’s stock, valued at $1,718,153.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Titan International news, Director Maurice M. Taylor, Jr. sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $15.27, for a total transaction of $1,527,000.00. Following the completion of the sale, the director now owns 792,968 shares in the company, valued at approximately $12,108,621.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Michael G. Troyanovich sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $15.10, for a total value of $604,000.00. Following the completion of the transaction, the general counsel now directly owns 113,785 shares in the company, valued at $1,718,153.50. The disclosure for this sale can be found here. Insiders sold 340,000 shares of company stock valued at $5,219,000 over the last 90 days. 19.60% of the stock is owned by corporate insiders.

About Titan International

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Titan International, Inc is a holding company engaged in the manufacture of wheels, tires, and undercarriage industrial. It operates through the following segments: Agricultural, Earthmoving and Construction, and Consumer. The Agricultural segment manufactures rims, wheels, and tires for use in various agricultural and forestry equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment.

Further Reading

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Institutional Ownership by Quarter for Titan International (NYSE:TWI)

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