Titan Machinery New Low , Down on Unusually High Volume

DANGER: Titan Machinery Bond Hits ALL TIME LOW....****Alert

*****ALERT.....*****ALERT....the end of Titan Machinery is rapidly approaching.

9.39% Yield

Titan Machinery Convertible Indenture (2019) hit a NEW all time low yesterday @ $79.00 yield 9.39%

Titan Machinery will be reporting FY2015 2nd quarter financials for the period ending July 31,2014 withing the next month.


#bearish

Bond:
Titan Machinery (NASDAQ: TITN)
Convertible Bond 3.75%  Maturity:2019.
Closed Yesterday:  $79.00 w 9.39% yield.

Date of Offering : April 18,2012 

Amount of Debt: $150 million Convertible

http://www.cherrytree.com/news/releasearchive/titan_0412.htm

(more on investment banker Cherry Tree can be found here)

Stock: (Stock Research)
Titan Machinery (NASDAQ: TITN) closed yesterday at $13.65 on volume of 120,358 shares. The stock has closed below $14 for the ninth consecutive session.

Titan Machinery FY2014 annual report (10K) .

•  FY 2014 Net Income declined 79% from $42 million in FY 2013 to $8.8 million for FY 2014.
•  April 10th announced the closing of 7 construction stores and 1 agriculture location

TITN 2 year chart vs. S&P500 (source: BigCharts )

Titan Machinery Bond (2019) Makes Third New YTD Low In 2 Weeks

 #bearish

Bond:
Titan Machinery (NASDAQ: TITN)
Convertible Bond 3.75%  Maturity:2019.
Closed Yesterday:  $81.13 w 8.73% yield.

Date of Offering : April 18,2012 

Amount of Debt: $150 million Convertible

http://www.cherrytree.com/news/releasearchive/titan_0412.htm

(more on investment banker Cherry Tree can be found here)

Stock: (Stock Research)
Titan Machinery (NASDAQ: TITN) closed yesterday at $13.50 on volume of 91,868 shares. The stock has closed below $14 for the sixth consecutive session.

Titan Machinery FY2014 annual report (10K) .

•  FY 2014 Net Income declined 79% from $42 million in FY 2013 to $8.8 million for FY 2014.
•  April 10th announced the closing of 7 construction stores and 1 agriculture location.

Target Cash Flow Declines $2.6 Billion (-63%)

Target Corporation (NYSE: TGT $59.25) announce 2nd quarter financials this morning for the period ending August 2,2014.

Operational Cash Flow:

FY2013 6 months: $4.1 billion
FY2014 6 months: $1.5 billion (63% decline)

TTM ending Aug 3,2013 : $6.96 billion
TTM ending Aug 2,2014 : $3.92 billion (43% decline)

Top Ten Institutions Own 85% of Titan Machinery Stock

 #bearish
According to Morningstar, the top ten institutions holding Titan Machinery stock own over 18 million of the approximately 21 million shares outstanding (85%). (from Morningstar.com)

•  Invesco Canada Fund Inc,  4.0 million shares (19%)
• Amvescap Plc.,                   3.6 million shares (17%)
• Fidelity Management Co.    2.5 million shares (13%)
• Invesco Advisers, Inc.         2.3 million shares (11%)
• Huber Capital                      1.3 million shares (6%)
• Towle & Co                        1.2 mllion shares (6%)
• Dimensional Fund Advisors  907K shares      (4%)
• Robeco Investment M          850K shares      (4%)
• Granahan Investment            635K shares      (3%)
• Vanguard Group, Inc.           547K shares      (2%)

To view institutions that hold Titan Machinery Bonds click here 

2 year stock chart of Titan Machinery (source BigCharts.com)