Bank of New York Mellon Corp decreased its stake in Rush Enterprises Inc. (NASDAQ:RUSHA) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,184 shares of the company’s stock after selling 8,785 shares during the period. Bank of New York Mellon Corp owned approximately 0.46% of Rush Enterprises worth $3,925,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cooke & Bieler LP raised its position in Rush Enterprises by 6.3% in the second quarter. Cooke & Bieler LP now owns 568,073 shares of the company’s stock valued at $12,242,000 after buying an additional 33,599 shares in the last quarter. Bank of Montreal Can bought a new position in Rush Enterprises during the second quarter valued at about $2,031,000. LPL Financial LLC bought a new position in Rush Enterprises during the first quarter valued at about $191,000. Renaissance Technologies LLC bought a new position in Rush Enterprises during the first quarter valued at about $2,717,000. Finally, Geode Capital Management LLC raised its position in Rush Enterprises by 3.0% in the first quarter. Geode Capital Management LLC now owns 250,173 shares of the company’s stock valued at $4,563,000 after buying an additional 7,269 shares in the last quarter. Hedge funds and other institutional investors own 78.52% of the company’s stock.
Shares of Rush Enterprises Inc. (NASDAQ:RUSHA) traded down 0.26% during mid-day trading on Tuesday, reaching $23.18. The company had a trading volume of 130,891 shares. The firm’s 50-day moving average price is $23.45 and its 200 day moving average price is $21.09. Rush Enterprises Inc. has a 52-week low of $14.19 and a 52-week high of $27.45. The company has a market cap of $919.34 million, a price-to-earnings ratio of 22.27 and a beta of 1.68.
Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. The business earned $1.03 billion during the quarter, compared to the consensus estimate of $1.10 billion. Rush Enterprises had a return on equity of 6.16% and a net margin of 0.94%. Equities analysts expect that Rush Enterprises Inc. will post $1.05 EPS for the current year.
A number of brokerages have recently weighed in on RUSHA. BMO Capital Markets restated an “outperform” rating and issued a $25.00 target price on shares of Rush Enterprises in a research note on Friday, September 16th. Stephens lowered Rush Enterprises from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 15th. Zacks Investment Research upgraded Rush Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Longbow Research lowered Rush Enterprises from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 1st. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $19.67.
About Rush Enterprises
Rush Enterprises, Inc is a 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. The Company, through its Rush Truck Centers, 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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