Bessemer Group Inc. increased its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 75.8% during the second quarter, Holdings Channel reports. The fund owned 36,400 shares of the company’s stock after buying an additional 15,700 shares during the period. Bessemer Group Inc.’s holdings in Rush Enterprises were worth $1,353,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. boosted its position in Rush Enterprises by 153.1% in the first quarter. Ameritas Investment Partners Inc. now owns 3,796 shares of the company’s stock valued at $125,000 after buying an additional 2,296 shares during the last quarter. Aperio Group LLC acquired a new position in Rush Enterprises during the second quarter valued at approximately $243,000. Nine Chapters Capital Management LLC acquired a new position in Rush Enterprises during the first quarter valued at approximately $281,000. Koch Industries Inc. acquired a new position in Rush Enterprises during the first quarter valued at approximately $294,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Rush Enterprises during the first quarter valued at approximately $312,000. Institutional investors own 76.37% of the company’s stock.
Rush Enterprises, Inc. (RUSHA) opened at 39.34 on Monday. The stock has a market capitalization of $1.55 billion, a PE ratio of 24.84 and a beta of 1.19. The company’s 50-day moving average price is $38.67 and its 200 day moving average price is $35.81. Rush Enterprises, Inc. has a 52-week low of $21.99 and a 52-week high of $43.55.
Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.15. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Rush Enterprises had a return on equity of 7.37% and a net margin of 1.46%. Equities analysts forecast that Rush Enterprises, Inc. will post $1.80 EPS for the current fiscal year.
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Several equities analysts recently commented on the company. BidaskClub cut Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday. Stifel Nicolaus restated a “hold” rating and set a $38.00 target price on shares of Rush Enterprises in a research report on Friday, July 28th. BMO Capital Markets boosted their target price on Rush Enterprises from $30.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research upgraded Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $47.00 target price for the company in a research report on Saturday, July 29th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Rush Enterprises currently has an average rating of “Buy” and an average price target of $42.25.
About Rush Enterprises
Rush Enterprises, Inc is an integrated retailer of commercial vehicles and related services. The Company operates through the Truck Segment, which includes its operation of a regional network of commercial vehicle dealerships under the name Rush Truck Centers. Through its Rush Truck Centers, it offers services, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products.
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