Allianz Asset Management GmbH increased its stake in Rush Enterprises, Inc. (NASDAQ:RUSHB) by 111.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,996 shares of the company’s stock after acquiring an additional 13,170 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.06% of Rush Enterprises worth $1,091,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of RUSHB. State Street Corp grew its holdings in shares of Rush Enterprises by 16.7% during the second quarter. State Street Corp now owns 97,071 shares of the company’s stock worth $3,537,000 after buying an additional 13,885 shares in the last quarter. Barings LLC purchased a new stake in shares of Rush Enterprises during the third quarter worth $310,000. Prudential Financial Inc. grew its holdings in shares of Rush Enterprises by 105.2% during the third quarter. Prudential Financial Inc. now owns 11,388 shares of the company’s stock worth $497,000 after buying an additional 5,838 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Rush Enterprises by 6.2% during the second quarter. Vanguard Group Inc. now owns 325,265 shares of the company’s stock worth $11,843,000 after buying an additional 18,915 shares in the last quarter. Finally, Swiss National Bank purchased a new stake in shares of Rush Enterprises during the second quarter worth $277,000. 11.71% of the stock is owned by institutional investors.

Shares of Rush Enterprises, Inc. (NASDAQ:RUSHB) opened at $48.64 on Thursday. Rush Enterprises, Inc. has a 1-year low of $28.99 and a 1-year high of $51.39. The stock has a market cap of $1,865.82, a price-to-earnings ratio of 25.20 and a beta of 0.96. The company has a current ratio of 1.16, a quick ratio of 0.29 and a debt-to-equity ratio of 0.55.

Rush Enterprises announced that its board has initiated 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 reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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About Rush Enterprises

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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Institutional Ownership by Quarter for Rush Enterprises (NASDAQ:RUSHB)

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