Bank of New York Mellon Corp grew its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 16.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 216,286 shares of the company’s stock after purchasing an additional 30,429 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.54% of Rush Enterprises worth $10,012,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RUSHA. Sei Investments Co. purchased a new position in Rush Enterprises in the third quarter valued at about $182,000. Ameritas Investment Partners Inc. grew its stake in Rush Enterprises by 8.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,112 shares of the company’s stock worth $152,000 after purchasing an additional 316 shares in the last quarter. Wrapmanager Inc. acquired a new position in Rush Enterprises in the third quarter worth about $216,000. Eqis Capital Management Inc. acquired a new position in Rush Enterprises in the third quarter worth about $237,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Rush Enterprises by 226.6% in the second quarter. BNP Paribas Arbitrage SA now owns 6,167 shares of the company’s stock valued at $229,000 after acquiring an additional 4,279 shares during the period. 76.27% of the stock is currently owned by institutional investors.

Rush Enterprises, Inc. (NASDAQ:RUSHA) opened at $49.64 on Tuesday. The company has a market cap of $1,960.00, a PE ratio of 25.72, a PEG ratio of 1.61 and a beta of 1.17. 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, Inc. has a 52-week low of $30.36 and a 52-week high of $54.11.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Wednesday, October 25th. The company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.25. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Rush Enterprises had a net margin of 1.74% and a return on equity of 8.82%. sell-side analysts forecast that Rush Enterprises, Inc. will post 2.07 EPS for the current fiscal year.

Rush Enterprises announced that its Board of Directors has authorized a stock buyback program on Thursday, November 30th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

A number of equities research analysts have recently weighed in on RUSHA shares. Zacks Investment Research raised Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $53.00 price target on the stock in a report on Wednesday, October 18th. Buckingham Research initiated 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. BidaskClub lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th. Stifel Nicolaus lifted their price objective 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. Finally, ValuEngine upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Five 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 currently has an average rating of “Hold” and an average price target of $46.00.

In related news, SVP James E. Thor sold 24,200 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $48.70, for a total value of $1,178,540.00. Following the sale, the senior vice president now 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 accessible through this hyperlink. Also, SVP Scott T. Anderson sold 12,144 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $50.76, for a total transaction of $616,429.44. Following the completion of the sale, the senior vice president now directly owns 3,600 shares in the company, valued at approximately $182,736. The disclosure for this sale can be found here. In the last three months, insiders sold 73,982 shares of company stock worth $3,747,332. 11.19% of the stock is currently owned by 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.

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

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