Hotchkis & Wiley Capital Management LLC Sells 718,741 Shares of Rush Enterprises, Inc. (RUSHA)
Hotchkis & Wiley Capital Management LLC cut its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 45.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 864,605 shares of the company’s stock after selling 718,741 shares during the period. Hotchkis & Wiley Capital Management LLC owned 2.17% of Rush Enterprises worth $40,023,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in RUSHA. Teachers Advisors LLC increased its position in shares of Rush Enterprises by 3.0% in the 1st quarter. Teachers Advisors LLC now owns 53,656 shares of the company’s stock valued at $1,775,000 after purchasing an additional 1,548 shares during the last quarter. Morgan Stanley increased its position in shares of Rush Enterprises by 102.6% in the 1st quarter. Morgan Stanley now owns 196,005 shares of the company’s stock valued at $6,484,000 after purchasing an additional 99,240 shares during the last quarter. Aperio Group LLC purchased a new stake in shares of Rush Enterprises in the 2nd quarter valued at approximately $243,000. US Bancorp DE increased its position in shares of Rush Enterprises by 0.8% in the 2nd quarter. US Bancorp DE now owns 21,036 shares of the company’s stock valued at $782,000 after purchasing an additional 164 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Rush Enterprises by 6.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 144,362 shares of the company’s stock valued at $5,368,000 after purchasing an additional 8,958 shares during the last quarter. 76.68% of the stock is currently owned by institutional investors.
A number of brokerages have commented on RUSHA. Buckingham Research began coverage on shares of Rush Enterprises in a research report on Tuesday, September 5th. They issued a “neutral” rating and a $40.00 price objective on the stock. Zacks Investment Research upgraded shares of Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $53.00 target price for the company in a report on Wednesday, October 18th. ValuEngine cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Finally, Stifel Nicolaus upped their target price on shares of Rush Enterprises from $41.00 to $45.00 and gave the company a “hold” rating in a report on Monday, October 30th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $46.00.
Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Wednesday, October 25th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.25. Rush Enterprises had a net margin of 1.74% and a return on equity of 8.82%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.21 billion. sell-side analysts expect that Rush Enterprises, Inc. will post 2.08 earnings per share for the current year.
In related news, SVP James E. Thor sold 24,200 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $48.70, for a total transaction of $1,178,540.00. Following the completion of the sale, the senior vice president now owns 39,032 shares in the company, valued at approximately $1,900,858.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Derrek Weaver sold 26,732 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $52.13, for a total transaction of $1,393,539.16. Following the sale, the executive vice president now owns 14,733 shares of the company’s stock, valued at approximately $768,031.29. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,838 shares of company stock valued at $3,130,903. Company insiders own 11.19% of the company’s stock.
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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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