Chartwell Investment Partners LLC Reduces Position in Rush Enterprises, Inc. (RUSHA)
Chartwell Investment Partners LLC cut its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 4.1% during the second quarter, Holdings Channel reports. The institutional investor owned 431,927 shares of the company’s stock after selling 18,500 shares during the period. Chartwell Investment Partners LLC’s holdings in Rush Enterprises were worth $16,059,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. BNP Paribas Arbitrage SA increased its position in shares of Rush Enterprises by 226.6% in the second quarter. BNP Paribas Arbitrage SA now owns 6,167 shares of the company’s stock worth $229,000 after buying an additional 4,279 shares in the last quarter. Legal & General Group Plc increased its position in shares of Rush Enterprises by 0.5% in the second quarter. Legal & General Group Plc now owns 42,999 shares of the company’s stock worth $1,597,000 after buying an additional 199 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Rush Enterprises during the second quarter worth $409,000. Convergence Investment Partners LLC increased its position in shares of Rush Enterprises by 4.3% in the second quarter. Convergence Investment Partners LLC now owns 34,761 shares of the company’s stock worth $1,292,000 after buying an additional 1,427 shares in the last quarter. Finally, ClariVest Asset Management LLC acquired a new position in shares of Rush Enterprises during the second quarter worth $5,470,000. Institutional investors own 76.37% of the company’s stock.
Rush Enterprises, Inc. (NASDAQ:RUSHA) opened at 39.48 on Friday. Rush Enterprises, Inc. has a 12-month low of $21.99 and a 12-month high of $43.55. The firm has a market cap of $1.57 billion, a P/E ratio of 24.92 and a beta of 1.19. The company has a 50-day moving average price of $39.16 and a 200-day moving average price of $36.01.
Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Wednesday, July 26th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.15. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Rush Enterprises had a return on equity of 7.31% and a net margin of 1.46%. On average, analysts predict that Rush Enterprises, Inc. will post $1.80 earnings per share for the current year.
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A number of brokerages have recently weighed in on RUSHA. BidaskClub downgraded Rush Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. BMO Capital Markets upped their target price on Rush Enterprises from $30.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $47.00 target price on the stock in a report on Saturday, July 29th. Stifel Nicolaus reiterated a “hold” rating and issued a $38.00 target price on shares of Rush Enterprises in a report on Friday, July 28th. Finally, TheStreet upgraded Rush Enterprises from a “c+” rating to a “b-” rating in a report on Tuesday, April 25th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $42.25.
Rush Enterprises Company Profile
Rush Enterprises, Inc is an integrated 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. Through its Rush Truck Centers, it 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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