Titan International Inc (NYSE:TWI) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 2,050,600 shares, a growth of 10.5% from the June 30th total of 1,855,300 shares. Currently, 3.6% of the shares of the company are short sold. Based on an average daily trading volume, of 425,300 shares, the days-to-cover ratio is presently 4.8 days.

In other news, Director Maurice M. Taylor, Jr. acquired 13,805 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $3.02 per share, with a total value of $41,691.10. Following the purchase, the director now owns 702,889 shares of the company’s stock, valued at approximately $2,122,724.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Maurice M. Taylor, Jr. acquired 139,214 shares of the company’s stock in a transaction on Friday, August 9th. The stock was purchased at an average cost of $3.04 per share, for a total transaction of $423,210.56. Following the completion of the purchase, the director now directly owns 619,477 shares in the company, valued at approximately $1,883,210.08. The disclosure for this purchase can be found here. Insiders acquired a total of 171,589 shares of company stock worth $520,055 over the last three months. 17.80% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Quantamental Technologies LLC purchased a new stake in shares of Titan International in the 2nd quarter worth about $30,000. Strs Ohio purchased a new stake in shares of Titan International in the 1st quarter worth about $39,000. Commonwealth Equity Services LLC purchased a new stake in shares of Titan International in the 2nd quarter worth about $59,000. Spears Abacus Advisors LLC purchased a new stake in shares of Titan International in the 2nd quarter worth about $62,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Titan International by 337.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,087 shares of the industrial products company’s stock worth $66,000 after buying an additional 8,552 shares in the last quarter. Institutional investors own 84.94% of the company’s stock.

Shares of NYSE TWI traded down $0.12 during trading on Thursday, hitting $2.81. 2,687 shares of the company were exchanged, compared to its average volume of 387,658. The stock has a market cap of $186.52 million, a P/E ratio of 10.63 and a beta of 2.04. Titan International has a 1 year low of $2.72 and a 1 year high of $8.40. The stock has a fifty day moving average price of $3.93. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 2.00.

Titan International (NYSE:TWI) last issued its earnings results on Thursday, August 1st. The industrial products company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.25). The company had revenue of $390.60 million for the quarter, compared to analysts’ expectations of $440.38 million. Titan International had a negative return on equity of 5.32% and a negative net margin of 1.31%. Titan International’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 earnings per share. As a group, sell-side analysts forecast that Titan International will post -0.22 earnings per share for the current year.

TWI has been the topic of several recent research reports. ValuEngine raised shares of Titan International from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Zacks Investment Research lowered shares of Titan International from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Sidoti set a $8.00 target price on shares of Titan International and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, TheStreet lowered shares of Titan International from a “c-” rating to a “d+” rating in a research report on Friday, August 2nd.

About Titan International

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, and internationally. The company operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.

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