Rush Enterprises, Inc. (RUSHA) Position Reduced by NJ State Employees Deferred Compensation Plan

NJ State Employees Deferred Compensation Plan lessened its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 42.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the company’s stock after selling 15,000 shares during the quarter. NJ State Employees Deferred Compensation Plan owned about 0.05% of Rush Enterprises worth $926,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RUSHA. Ameriprise Financial Inc. increased its holdings in shares of Rush Enterprises by 3.6% during the 1st quarter. Ameriprise Financial Inc. now owns 51,292 shares of the company’s stock worth $1,697,000 after purchasing an additional 1,798 shares during the period. TIAA CREF Investment Management LLC increased its holdings in shares of Rush Enterprises by 51.6% during the 1st quarter. TIAA CREF Investment Management LLC now owns 187,952 shares of the company’s stock worth $6,217,000 after purchasing an additional 63,940 shares during the period. Convergence Investment Partners LLC increased its holdings in shares of Rush Enterprises by 4.3% during the 2nd quarter. Convergence Investment Partners LLC now owns 34,761 shares of the company’s stock worth $1,292,000 after purchasing an additional 1,427 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Rush Enterprises by 10.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 258,038 shares of the company’s stock worth $8,536,000 after purchasing an additional 24,038 shares during the period. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Rush Enterprises by 110.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 15,325 shares of the company’s stock worth $507,000 after purchasing an additional 8,037 shares during the period. Hedge funds and other institutional investors own 75.43% of the company’s stock.

Several research firms have recently issued reports on RUSHA. BMO Capital Markets restated a “market perform” rating and set a $50.00 price objective (up previously from $42.00) on shares of Rush Enterprises in a report on Monday. They noted that the move was a valuation call. Stifel Nicolaus boosted their price objective on shares of Rush Enterprises from $41.00 to $45.00 and gave the stock a “hold” rating in a report on Monday. ValuEngine downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $53.00 price objective on the stock in a report on Wednesday, October 18th. Finally, BidaskClub upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $46.00.

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Rush Enterprises, Inc. (RUSHA) traded down 0.14% during mid-day trading on Wednesday, reaching $50.71. 47,919 shares of the company were exchanged. The company’s 50 day moving average price is $45.96 and its 200-day moving average price is $40.01. Rush Enterprises, Inc. has a 12-month low of $24.66 and a 12-month high of $54.11. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 32.01 and a beta of 1.18.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.25. Rush Enterprises had a net margin of 1.74% and a return on equity of 8.95%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, equities research analysts forecast that Rush Enterprises, Inc. will post $2.09 earnings per share for the current fiscal year.

In related news, EVP Derrek Weaver sold 26,732 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $52.13, for a total transaction of $1,393,539.16. Following the transaction, the executive vice president now directly owns 14,733 shares of the company’s stock, valued at $768,031.29. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.19% of the stock is currently owned by company insiders.

Rush Enterprises Company Profile

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.

Institutional Ownership by Quarter for Rush Enterprises (NASDAQ:RUSHA)

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