Schroder Investment Management Group raised its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 10.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,938 shares of the company’s stock after buying an additional 3,259 shares during the period. Schroder Investment Management Group owned 0.09% of Rush Enterprises worth $1,635,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Trexquant Investment LP acquired a new stake in Rush Enterprises in the 3rd quarter valued at $204,000. Legal & General Group Plc increased its stake in shares of Rush Enterprises by 8.4% during the 3rd quarter. Legal & General Group Plc now owns 46,631 shares of the company’s stock worth $2,161,000 after purchasing an additional 3,632 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Rush Enterprises by 70.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 3,362 shares of the company’s stock worth $157,000 after purchasing an additional 1,393 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Rush Enterprises by 18.4% during the 3rd quarter. Nordea Investment Management AB now owns 136,800 shares of the company’s stock worth $6,332,000 after purchasing an additional 21,300 shares during the last quarter. Finally, Sawgrass Asset Management LLC acquired a new position in shares of Rush Enterprises during the 3rd quarter worth about $965,000. Hedge funds and other institutional investors own 76.37% of the company’s stock.
Shares of Rush Enterprises, Inc. (RUSHA) opened at $48.17 on Thursday. The company has a market cap of $1,943.90, a PE ratio of 25.28, a P/E/G ratio of 1.57 and a beta of 1.17. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.29 and a current ratio of 1.16. Rush Enterprises, Inc. has a twelve month low of $29.68 and a twelve month high of $54.11.
Rush Enterprises announced that its board has initiated a share buyback plan on Thursday, November 30th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
Several research analysts have recently weighed in on RUSHA shares. 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 research note on Wednesday, October 18th. 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 research note on Monday, October 30th. BMO Capital Markets restated a “market perform” rating and set a $50.00 price objective (up from $42.00) on shares of Rush Enterprises in a research note on Monday, October 30th. They noted that the move was a valuation call. ValuEngine upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Buckingham Research started coverage on shares of Rush Enterprises in a research note on Tuesday, September 5th. They set a “neutral” rating and a $40.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $46.00.
In other Rush Enterprises news, EVP Derrek Weaver sold 26,732 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $52.13, for a total value of $1,393,539.16. Following the completion of the sale, the executive vice president now owns 14,733 shares of the company’s stock, valued at approximately $768,031.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William M. Rusty Rush sold 10,906 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $51.24, for a total transaction of $558,823.44. Following the completion of the sale, the chief executive officer now directly owns 96,155 shares of the company’s stock, valued at approximately $4,926,982.20. The disclosure for this sale can be found here. Insiders have sold a total of 73,982 shares of company stock valued at $3,747,332 in the last ninety days. 11.19% of the stock is currently owned by insiders.
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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.
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