Private Management Group Inc. Raises Stock Position in Rush Enterprises, Inc. $RUSHA

Private Management Group Inc. raised its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 8.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 316,760 shares of the company’s stock after purchasing an additional 25,106 shares during the quarter. Private Management Group Inc.’s holdings in Rush Enterprises were worth $16,316,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RUSHA. Cerity Partners LLC purchased a new stake in shares of Rush Enterprises in the first quarter worth about $207,000. Victory Capital Management Inc. raised its position in Rush Enterprises by 41.0% during the first quarter. Victory Capital Management Inc. now owns 181,149 shares of the company’s stock valued at $9,675,000 after acquiring an additional 52,689 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Rush Enterprises by 1.3% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 196,472 shares of the company’s stock valued at $10,494,000 after acquiring an additional 2,497 shares during the period. Royce & Associates LP purchased a new stake in Rush Enterprises in the 1st quarter worth approximately $3,215,000. Finally, TD Asset Management Inc grew its stake in shares of Rush Enterprises by 6.6% during the 1st quarter. TD Asset Management Inc now owns 37,172 shares of the company’s stock worth $1,985,000 after purchasing an additional 2,292 shares during the period. 84.43% of the stock is owned by institutional investors and hedge funds.

Rush Enterprises Stock Performance

RUSHA opened at $50.93 on Friday. The firm’s fifty day simple moving average is $51.42 and its two-hundred day simple moving average is $52.62. Rush Enterprises, Inc. has a 52-week low of $45.67 and a 52-week high of $65.43. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 1.44 and a beta of 0.91. The company has a quick ratio of 0.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.23.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Thursday, May 20th. The company reported $0.79 earnings per share for the quarter. The firm had revenue of $1.23 billion during the quarter. Rush Enterprises had a net margin of 3.57% and a return on equity of 12.61%. Equities analysts anticipate that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.5%. Rush Enterprises’s dividend payout ratio is presently 22.55%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RUSHA. Zacks Research cut shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rush Enterprises in a report on Wednesday, October 8th. Wall Street Zen raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, Stephens cut their price target on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Rush Enterprises presently has a consensus rating of “Hold” and an average target price of $55.00.

About Rush Enterprises

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird, and Dennis Eagle.