Ameriprise Financial Inc. increased its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 3.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,292 shares of the company’s stock after buying an additional 1,798 shares during the period. Ameriprise Financial Inc. owned approximately 0.13% of Rush Enterprises worth $1,697,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position in Rush Enterprises by 2.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,527 shares of the company’s stock worth $177,000 after buying an additional 115 shares during the period. Tudor Investment Corp Et Al acquired a new position in Rush Enterprises during the fourth quarter worth $265,000. Capital Fund Management S.A. acquired a new position in Rush Enterprises during the first quarter worth $414,000. UBS Asset Management Americas Inc. raised its position in Rush Enterprises by 110.3% in the first quarter. UBS Asset Management Americas Inc. now owns 15,325 shares of the company’s stock worth $507,000 after buying an additional 8,037 shares during the period. Finally, Gamco Investors INC. ET AL raised its position in Rush Enterprises by 0.7% in the first quarter. Gamco Investors INC. ET AL now owns 16,889 shares of the company’s stock worth $559,000 after buying an additional 110 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.
Rush Enterprises, Inc. (RUSHA) opened at 37.59 on Friday. The firm has a 50 day moving average of $36.40 and a 200-day moving average of $34.41. Rush Enterprises, Inc. has a 1-year low of $21.35 and a 1-year high of $39.21. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 28.85 and a beta of 1.16.
RUSHA has been the topic of a number of recent research reports. TheStreet raised shares of Rush Enterprises from a “c+” rating to a “b-” rating in a research note on Tuesday, April 25th. BidaskClub raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Seaport Global Securities initiated coverage on shares of Rush Enterprises in a research note on Thursday, April 6th. They issued a “buy” rating and a $42.00 price objective on the stock. BMO Capital Markets reaffirmed a “hold” rating and issued a $30.00 price objective on shares of Rush Enterprises in a research note on Friday, July 7th. Finally, Zacks Investment Research lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Thursday, April 27th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Rush Enterprises currently has a consensus rating of “Hold” and a consensus price target of $37.00.
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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