Dimensional Fund Advisors LP Acquires 48,762 Shares of Rush Enterprises, Inc. (RUSHA)
Dimensional Fund Advisors LP increased its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,618,857 shares of the company’s stock after acquiring an additional 48,762 shares during the period. Dimensional Fund Advisors LP owned about 6.58% of Rush Enterprises worth $121,227,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Rush Enterprises by 8.5% during the 2nd quarter. Vanguard Group Inc. now owns 2,939,802 shares of the company’s stock valued at $109,302,000 after acquiring an additional 230,463 shares in the last quarter. Northern Trust Corp boosted its position in Rush Enterprises by 7.5% in the second quarter. Northern Trust Corp now owns 989,043 shares of the company’s stock valued at $36,773,000 after buying an additional 69,015 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Rush Enterprises by 17.4% in the second quarter. JPMorgan Chase & Co. now owns 799,150 shares of the company’s stock valued at $29,712,000 after buying an additional 118,386 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in Rush Enterprises by 18.3% in the second quarter. Westfield Capital Management Co. LP now owns 722,639 shares of the company’s stock valued at $26,868,000 after buying an additional 111,813 shares in the last quarter. Finally, State Street Corp boosted its position in Rush Enterprises by 8.8% in the second quarter. State Street Corp now owns 648,898 shares of the company’s stock valued at $24,125,000 after buying an additional 52,409 shares in the last quarter. Institutional investors and hedge funds own 76.37% of the company’s stock.
Rush Enterprises, Inc. (RUSHA) opened at $49.53 on Monday. Rush Enterprises, Inc. has a 12-month low of $29.68 and a 12-month high of $54.11. The stock has a market cap of $1,972.98, a P/E ratio of 25.66, a PEG ratio of 1.59 and a beta of 1.17. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.29 and a current ratio of 1.16.
Rush Enterprises announced that its board has authorized a share buyback program on Thursday, November 30th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
A number of research firms have commented on RUSHA. Buckingham Research began coverage on shares of Rush Enterprises in a research report on Tuesday, September 5th. They issued a “neutral” rating and a $40.00 price target on the stock. Zacks Investment Research upgraded shares of Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $53.00 price target on the stock in a research report on Wednesday, October 18th. BidaskClub lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th. ValuEngine lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Stifel Nicolaus upped their target price on shares of Rush Enterprises from $41.00 to $45.00 and gave the stock a “hold” rating in a research report on Monday, October 30th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Rush Enterprises has a consensus rating of “Hold” and a consensus price target of $46.00.
In related news, SVP James E. Thor sold 24,200 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $48.70, for a total transaction of $1,178,540.00. Following the completion of the sale, the senior vice president now directly owns 39,032 shares of the company’s stock, valued at $1,900,858.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William M. Rusty Rush sold 10,906 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $51.24, for a total transaction of $558,823.44. Following the sale, the chief executive officer now directly owns 96,155 shares of the company’s stock, valued at $4,926,982.20. The disclosure for this sale can be found here. Insiders have sold 73,982 shares of company stock worth $3,747,332 over the last quarter. 11.19% of the stock is owned by company insiders.
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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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