Peregrine Capital Management LLC Sells 7,951 Shares of Rush Enterprises, Inc. $RUSHA

Peregrine Capital Management LLC lessened its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 8.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 82,401 shares of the company’s stock after selling 7,951 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.11% of Rush Enterprises worth $5,448,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in RUSHA. Goldman Sachs Group Inc. raised its holdings in Rush Enterprises by 174.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 955,989 shares of the company’s stock worth $51,566,000 after purchasing an additional 607,047 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of Rush Enterprises during the 4th quarter valued at $25,811,000. Millennium Management LLC boosted its holdings in shares of Rush Enterprises by 280.4% during the 3rd quarter. Millennium Management LLC now owns 540,942 shares of the company’s stock valued at $28,924,000 after buying an additional 398,721 shares in the last quarter. Cooke & Bieler LP grew its position in shares of Rush Enterprises by 85.0% in the 4th quarter. Cooke & Bieler LP now owns 729,250 shares of the company’s stock worth $39,336,000 after buying an additional 335,019 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Rush Enterprises by 38.6% in the 3rd quarter. American Century Companies Inc. now owns 1,173,429 shares of the company’s stock worth $62,743,000 after acquiring an additional 326,917 shares in the last quarter. 84.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. UBS Group boosted their price objective on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday. Wall Street Zen lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Rush Enterprises in a research note on Thursday, June 18th. Finally, Stephens restated an “overweight” rating and set a $85.00 price target on shares of Rush Enterprises in a report on Tuesday, May 19th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.67.

Rush Enterprises Trading Down 1.4%

Rush Enterprises stock opened at $71.97 on Thursday. Rush Enterprises, Inc. has a one year low of $45.67 and a one year high of $76.99. The business’s fifty day moving average is $70.66 and its 200 day moving average is $66.87. The stock has a market capitalization of $5.59 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 1.55 and a beta of 0.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.37.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.73 billion. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%. On average, sell-side analysts predict that Rush Enterprises, Inc. will post 3.79 EPS for the current year.

Rush Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, May 12th. Rush Enterprises’s payout ratio is presently 22.96%.

Insider Buying and Selling at Rush Enterprises

In related news, Director Michael Mcroberts sold 8,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total transaction of $577,840.00. Following the transaction, the director owned 16,229 shares in the company, valued at $1,172,220.67. This represents a 33.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.68% of the stock is owned by insiders.

Rush Enterprises Company Profile

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.