Private Management Group Inc. Decreases Holdings in Rush Enterprises, Inc. $RUSHA

Private Management Group Inc. decreased its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 5.4% in the fourth quarter, HoldingsChannel reports. The fund owned 296,648 shares of the company’s stock after selling 17,074 shares during the quarter. Private Management Group Inc.’s holdings in Rush Enterprises were worth $16,001,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RUSHA. Goldman Sachs Group Inc. lifted its position in Rush Enterprises by 174.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 955,989 shares of the company’s stock valued at $51,566,000 after acquiring an additional 607,047 shares during the last quarter. Millennium Management LLC increased its stake in Rush Enterprises by 280.4% during the 3rd quarter. Millennium Management LLC now owns 540,942 shares of the company’s stock valued at $28,924,000 after purchasing an additional 398,721 shares in the last quarter. Cooke & Bieler LP increased its stake in Rush Enterprises by 85.0% during the 4th quarter. Cooke & Bieler LP now owns 729,250 shares of the company’s stock valued at $39,336,000 after purchasing an additional 335,019 shares in the last quarter. American Century Companies Inc. increased its stake in Rush Enterprises by 38.6% during the 3rd quarter. American Century Companies Inc. now owns 1,173,429 shares of the company’s stock valued at $62,743,000 after purchasing an additional 326,917 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Rush Enterprises by 91.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 628,855 shares of the company’s stock valued at $32,392,000 after purchasing an additional 301,119 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Analyst Upgrades and Downgrades

RUSHA has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Stephens restated an “overweight” rating and set a $85.00 price target on shares of Rush Enterprises in a research note on Tuesday, May 19th. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 25th. Wolfe Research initiated coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They set an “outperform” rating and a $88.00 price target on the stock. Finally, UBS Group upped their price target on shares of Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Rush Enterprises presently has an average rating of “Hold” and a consensus price target of $83.67.

Rush Enterprises Stock Up 1.9%

RUSHA stock opened at $69.09 on Friday. The firm has a market cap of $5.37 billion, a PE ratio of 20.87, a P/E/G ratio of 1.44 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46. The firm’s fifty day moving average is $70.26 and its 200 day moving average is $65.19. Rush Enterprises, Inc. has a one year low of $45.67 and a one year high of $76.99.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.72 by $0.05. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.73 billion. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. On average, research analysts forecast that Rush Enterprises, Inc. will post 3.79 EPS for the current year.

Rush Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 12th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.1%. The ex-dividend date was Tuesday, May 12th. Rush Enterprises’s dividend payout ratio (DPR) is currently 22.96%.

Insider Buying and Selling

In related news, Director Michael Mcroberts sold 8,000 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total transaction of $577,840.00. Following the sale, the director owned 16,229 shares in the company, valued at approximately $1,172,220.67. This trade represents a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.68% of the company’s stock.

Rush Enterprises Company Profile

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.