EULAV Asset Management Acquires 227,352 Shares of Rush Enterprises, Inc. $RUSHA

EULAV Asset Management lifted its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 59.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 608,071 shares of the company’s stock after purchasing an additional 227,352 shares during the quarter. EULAV Asset Management owned about 0.52% of Rush Enterprises worth $27,856,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RUSHA. Hsbc Holdings PLC purchased a new stake in Rush Enterprises in the fourth quarter valued at about $776,000. Granite Investment Partners LLC boosted its holdings in Rush Enterprises by 124.1% in the first quarter. Granite Investment Partners LLC now owns 143,619 shares of the company’s stock worth $9,495,000 after acquiring an additional 79,535 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Rush Enterprises by 83.9% in the first quarter. Janus Henderson Group PLC now owns 724,410 shares of the company’s stock worth $47,920,000 after acquiring an additional 330,553 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Rush Enterprises by 27.3% during the first quarter. California State Teachers Retirement System now owns 72,875 shares of the company’s stock worth $4,818,000 after acquiring an additional 15,643 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. purchased a new stake in shares of Rush Enterprises during the first quarter worth about $3,655,000. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RUSHA. Stephens upped their price objective on shares of Rush Enterprises from $40.00 to $42.22 and gave the company an “overweight” rating in a report on Thursday, July 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rush Enterprises in a research note on Wednesday, October 21st. Wall Street Zen downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, October 11th. Zacks Research lowered shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 2nd. Finally, UBS Group restated a “neutral” rating and set a $56.67 price target (up from $52.00) on shares of Rush Enterprises in a research note on Tuesday, August 25th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Rush Enterprises currently has a consensus rating of “Hold” and a consensus price target of $46.00.

Insider Buying and Selling at Rush Enterprises

In other Rush Enterprises news, CFO Steven L. Keller sold 46,525 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $35.88, for a total value of $1,669,317.00. Following the sale, the chief financial officer directly owned 189,841 shares of the company’s stock, valued at approximately $6,811,495.08. This represents a 19.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William M. Rusty Rush sold 161,041 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $36.02, for a total transaction of $5,801,054.69. Following the completion of the sale, the chief executive officer directly owned 391,846 shares in the company, valued at approximately $14,115,163.69. The trade was a 29.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 252,561 shares of company stock valued at $9,092,298 over the last quarter. Insiders own 12.68% of the company’s stock.

Rush Enterprises Trading Up 0.3%

Shares of NASDAQ RUSHA opened at $45.48 on Wednesday. The business’s 50 day moving average price is $48.03 and its 200 day moving average price is $36.00. Rush Enterprises, Inc. has a 52 week low of $30.45 and a 52 week high of $55.74.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.05 billion. On average, sell-side analysts expect that Rush Enterprises, Inc. will post 2.43 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

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 issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 11th.

About Rush Enterprises

Rush Enterprises, Inc is a commercial vehicle solutions provider operating through the Rush Truck Centers network. The company sells new and used commercial trucks, including vehicles from manufacturers such as Peterbilt, International, Hino, Isuzu and Ford, along with related buses and specialty vehicles in selected markets.

In addition to vehicle sales, Rush provides parts, maintenance and repair services through its dealership network. Its offerings also include truck leasing and rentals, collision repair, mobile service, aftermarket products, and fleet-management and technology solutions designed to support commercial transportation operators.

Founded in 1965 and headquartered in New Braunfels, Texas, Rush has expanded from its original Peterbilt dealership into one of the largest commercial vehicle dealership networks in the United States.