Private Management Group Inc. Makes New $13.97 Million Investment in Rush Enterprises, Inc. $RUSHA

Key Points

• Private Management Group opened a new Rush Enterprises position, buying 304,912 shares worth about $13.97 million, or roughly 0.26% of the company. Institutional investors collectively own 84.43% of the stock.
• Rush reported quarterly EPS of $0.65, slightly above the $0.64 consensus, and revenue of $2.11 billion versus estimates of $2.05 billion. Analysts’ consensus rating is “Buy,” with a $50.26 price target.
• The company declared a quarterly dividend of $0.14 per share, equivalent to $0.56 annually and a 1.2% yield.

Private Management Group Inc. acquired a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 304,912 shares of the company's stock, valued at approximately $13,968,000. Private Management Group Inc. owned about 0.26% of Rush Enterprises as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Rush Enterprises by 105.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 136,266 shares of the company's stock valued at $6,294,000 after purchasing an additional 70,007 shares during the last quarter. Hohimer Wealth Management LLC boosted its position in shares of Rush Enterprises by 53.6% during the third quarter. Hohimer Wealth Management LLC now owns 5,057 shares of the company's stock worth $232,000 after purchasing an additional 1,765 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Rush Enterprises by 57.3% during the third quarter. Pictet Asset Management Holding SA now owns 14,668 shares of the company's stock worth $672,000 after purchasing an additional 5,345 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Rush Enterprises by 144.0% in the 3rd quarter. Parallel Advisors LLC now owns 3,358 shares of the company's stock valued at $154,000 after buying an additional 1,982 shares during the period. Finally, Kestra Advisory Services LLC grew its holdings in shares of Rush Enterprises by 68.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 30,086 shares of the company's stock valued at $1,378,000 after buying an additional 12,192 shares during the period. 84.43% of the stock is currently owned by institutional investors.

Rush Enterprises Stock Performance

Shares of RUSHA stock opened at $45.08 on Tuesday. Rush Enterprises, Inc. has a 12 month low of $30.94 and a 12 month high of $55.74. The company's fifty day simple moving average is $46.66 and its 200-day simple moving average is $36.78. The firm has a market cap of $5.26 billion, a PE ratio of 19.52, a P/E/G ratio of 1.66 and a beta of 0.89. The company has a quick ratio of 0.37, a current ratio of 1.44 and a debt-to-equity ratio of 0.15.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its earnings results on Tuesday, October 27th. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.01. Rush Enterprises had a net margin of 3.70% and a return on equity of 11.91%. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.05 billion. Equities research analysts expect that Rush Enterprises, Inc. will post 2.43 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 11th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, November 10th. Rush Enterprises's dividend payout ratio is currently 24.24%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Stephens lowered their price objective on shares of Rush Enterprises from $60.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, October 29th. Zacks Research upgraded Rush Enterprises from a "strong sell" rating to a "strong-buy" rating in a report on Monday, November 2nd. Weiss Ratings reissued a "buy (b-)" rating on shares of Rush Enterprises in a research note on Wednesday, October 21st. UBS Group restated a "neutral" rating and issued a $56.67 price target (up from $52.00) on shares of Rush Enterprises in a report on Tuesday, August 25th. Finally, Wall Street Zen lowered Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Sunday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Rush Enterprises currently has a consensus rating of "Buy" and a consensus price target of $50.26.

About Rush Enterprises

Rush Enterprises, Inc operates Rush Truck Centers, a network of commercial vehicle dealerships serving customers in the United States and Canada. The company sells new and used heavy-, medium- and light-duty trucks, representing manufacturers such as Peterbilt and other commercial vehicle brands.

Its services include truck parts and repairs, collision and body work, leasing and rentals, and related financing and insurance products. Rush also provides aftermarket support designed to help commercial fleets and individual truck operators maintain and manage their vehicles.

Founded in 1965 as a truck dealership in Houston, Texas, Rush Enterprises has grown into a broad commercial vehicle distribution and service business.

Want to see what other hedge funds are holding RUSHA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.