Citigroup Inc. Has $1.94 Million Stake in Rush Enterprises, Inc. $RUSHA

Key Points

• Citigroup cut its stake in Rush Enterprises by 41.8% to 36,183 shares (about $1.94M), while other institutions such as American Century and Edgestream substantially increased holdings and institutional investors now own 84.43% of the stock.
• Analysts have grown more positive—MarketBeat shows a consensus of “Moderate Buy” with an average price target of $76.50, and firms including Stephens and UBS have raised their target prices to $80 and $73, respectively.
• Rush beat estimates for the quarter (EPS $0.81 vs $0.69; revenue $1.77B vs $1.72B), announced a $0.19 quarterly dividend (1.2% yield), but insiders sold 23,750 shares (~$1.7M) in the last 90 days and now own 12.28%.

Citigroup Inc. lowered its position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 41.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,183 shares of the company's stock after selling 25,934 shares during the period. Citigroup Inc.'s holdings in Rush Enterprises were worth $1,935,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position in Rush Enterprises by 540.0% in the second quarter. American Century Companies Inc. now owns 846,512 shares of the company's stock worth $43,604,000 after acquiring an additional 714,253 shares in the last quarter. Edgestream Partners L.P. raised its holdings in shares of Rush Enterprises by 664.8% during the 2nd quarter. Edgestream Partners L.P. now owns 98,962 shares of the company's stock valued at $5,098,000 after purchasing an additional 86,023 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in shares of Rush Enterprises by 2.9% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 505,212 shares of the company's stock valued at $26,023,000 after purchasing an additional 14,387 shares in the last quarter. EULAV Asset Management lifted its stake in shares of Rush Enterprises by 17.1% in the 3rd quarter. EULAV Asset Management now owns 276,100 shares of the company's stock valued at $14,763,000 after purchasing an additional 40,378 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Rush Enterprises by 76.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 80,969 shares of the company's stock valued at $4,269,000 after purchasing an additional 34,979 shares during the last quarter. Institutional investors own 84.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RUSHA shares. Stephens reissued an "overweight" rating and set a $80.00 target price (up from $55.00) on shares of Rush Enterprises in a research report on Thursday, February 19th. Wall Street Zen raised Rush Enterprises from a "hold" rating to a "buy" rating in a research report on Saturday, February 14th. Weiss Ratings upgraded Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, February 25th. Zacks Research raised Rush Enterprises from a "strong sell" rating to a "hold" rating in a report on Tuesday, December 2nd. Finally, UBS Group restated a "neutral" rating and issued a $73.00 target price (up from $70.00) on shares of Rush Enterprises in a report on Wednesday, February 18th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $76.50.

Insider Buying and Selling at Rush Enterprises

In other news, Director Michael Mcroberts sold 8,000 shares of the business's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $70.81, for a total transaction of $566,480.00. Following the transaction, the director owned 16,229 shares in the company, valued at approximately $1,149,175.49. The trade was a 33.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jody Pollard sold 11,250 shares of Rush Enterprises stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $71.92, for a total value of $809,100.00. Following the sale, the senior vice president directly owned 3,385 shares in the company, valued at approximately $243,449.20. This trade represents a 76.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 23,750 shares of company stock valued at $1,698,950 in the last ninety days. Company insiders own 12.28% of the company's stock.

Rush Enterprises Stock Down 3.9%

RUSHA stock opened at $66.03 on Monday. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 0.81 and a beta of 0.91. The company has a 50-day moving average of $65.46 and a two-hundred day moving average of $57.74. Rush Enterprises, Inc. has a 52-week low of $45.67 and a 52-week high of $75.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 0.37.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The company reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.12. Rush Enterprises had a return on equity of 11.96% and a net margin of 3.55%.The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. As a group, equities research analysts anticipate that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Tuesday, March 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 1.2%. Rush Enterprises's payout ratio is 23.24%.

Rush Enterprises 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.

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