Citadel Advisors LLC raised its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 56.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,059 shares of the company’s stock after acquiring an additional 19,398 shares during the period. Citadel Advisors LLC’s holdings in Rush Enterprises were worth $2,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in shares of Rush Enterprises by 11.9% during the second quarter. Wells Fargo & Company MN now owns 36,719 shares of the company’s stock worth $1,366,000 after buying an additional 3,913 shares during the period. Voya Investment Management LLC boosted its stake in shares of Rush Enterprises by 7.1% during the second quarter. Voya Investment Management LLC now owns 16,589 shares of the company’s stock worth $617,000 after buying an additional 1,106 shares during the period. State Street Corp boosted its stake in shares of Rush Enterprises by 8.8% during the second quarter. State Street Corp now owns 648,898 shares of the company’s stock worth $24,125,000 after buying an additional 52,409 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of Rush Enterprises by 8.3% during the second quarter. Ameritas Investment Partners Inc. now owns 4,112 shares of the company’s stock worth $152,000 after buying an additional 316 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Rush Enterprises during the third quarter worth about $1,872,000. Institutional investors own 77.02% of the company’s stock.
In related news, SVP Scott T. Anderson sold 12,144 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $50.76, for a total value of $616,429.44. Following the completion of the sale, the senior vice president now owns 3,600 shares in the company, valued at $182,736. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.19% of the stock is owned by company insiders.
Rush Enterprises announced that its Board of Directors has approved a share buyback plan on Thursday, November 30th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Several equities research analysts have recently weighed in on the stock. ValuEngine downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Friday. BMO Capital Markets decreased their target price on shares of Rush Enterprises from $50.00 to $45.00 and set a “market perform” rating for the company in a research note on Tuesday, February 20th. Stifel Nicolaus set a $49.00 target price on shares of Rush Enterprises and gave the stock a “hold” rating in a research note on Friday, February 9th. Stephens upgraded shares of Rush Enterprises from an “equal weight” rating to an “overweight” rating in a research report on Friday, February 9th. Finally, Seaport Global Securities restated a “buy” rating and issued a $62.00 price objective on shares of Rush Enterprises in a research report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Rush Enterprises currently has a consensus rating of “Hold” and an average target price of $49.20.
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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.
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