Private Management Group Inc. cut its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHB) by 1.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 375,145 shares of the company’s stock after selling 6,463 shares during the quarter. Private Management Group Inc. owned about 0.94% of Rush Enterprises worth $18,086,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of RUSHB. State Street Corp raised its stake in Rush Enterprises by 16.7% in the 2nd quarter. State Street Corp now owns 97,071 shares of the company’s stock valued at $3,537,000 after acquiring an additional 13,885 shares during the period. Allianz Asset Management GmbH grew its holdings in shares of Rush Enterprises by 111.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 24,996 shares of the company’s stock worth $1,091,000 after purchasing an additional 13,170 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Rush Enterprises by 105.2% during the 3rd quarter. Prudential Financial Inc. now owns 11,388 shares of the company’s stock worth $497,000 after purchasing an additional 5,838 shares in the last quarter. Barings LLC acquired a new stake in shares of Rush Enterprises during the 3rd quarter worth $310,000. Finally, Vanguard Group Inc. grew its holdings in shares of Rush Enterprises by 6.2% during the 2nd quarter. Vanguard Group Inc. now owns 325,265 shares of the company’s stock worth $11,843,000 after purchasing an additional 18,915 shares in the last quarter. Institutional investors and hedge funds own 10.36% of the company’s stock.
Separately, ValuEngine upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd.
Shares of Rush Enterprises, Inc. (NASDAQ:RUSHB) opened at $39.15 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 1.17. Rush Enterprises, Inc. has a one year low of $28.99 and a one year high of $52.76. The company has a market capitalization of $1,558.72, a P/E ratio of 9.41 and a beta of 1.08.
Rush Enterprises announced that its Board of Directors has approved a share buyback program on Thursday, November 30th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is 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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