Castleark Management LLC Invests $8.60 Million in Rush Enterprises, Inc. (RUSHA) Stock

Castleark Management LLC bought a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 231,263 shares of the company’s stock, valued at approximately $8,598,000. Castleark Management LLC owned approximately 0.59% of Rush Enterprises at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. grew its stake in Rush Enterprises by 153.1% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,796 shares of the company’s stock worth $125,000 after purchasing an additional 2,296 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Rush Enterprises by 226.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,167 shares of the company’s stock worth $229,000 after purchasing an additional 4,279 shares in the last quarter. Aperio Group LLC acquired a new position in Rush Enterprises during the 2nd quarter worth $243,000. PNC Financial Services Group Inc. grew its stake in Rush Enterprises by 12.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,900 shares of the company’s stock worth $256,000 after purchasing an additional 780 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in Rush Enterprises during the 2nd quarter worth $296,000. 75.45% of the stock is owned by hedge funds and other institutional investors.

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RUSHA has been the subject of several analyst reports. Zacks Investment Research cut Rush Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 27th. Stifel Nicolaus reaffirmed a “hold” rating and set a $38.00 price objective on shares of Rush Enterprises in a research report on Friday, July 28th. BMO Capital Markets upped their price objective on Rush Enterprises from $30.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. ValuEngine raised Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, BidaskClub cut Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $41.80.

Rush Enterprises, Inc. (RUSHA) traded down 0.30% on Friday, hitting $46.00. The stock had a trading volume of 28,411 shares. The stock has a market cap of $1.83 billion, a P/E ratio of 29.04 and a beta of 1.18. Rush Enterprises, Inc. has a one year low of $21.99 and a one year high of $47.32. The company’s 50-day moving average is $43.08 and its 200-day moving average is $38.53.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.15. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.07 billion. Rush Enterprises had a return on equity of 7.31% and a net margin of 1.46%. On average, analysts anticipate that Rush Enterprises, Inc. will post $1.79 earnings per share for the current fiscal year.

Rush Enterprises 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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