Allianz Asset Management GmbH Cuts Stock Position in Rush Enterprises, Inc. $RUSHA

Allianz Asset Management GmbH trimmed its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 18.5% in the third quarter, HoldingsChannel.com reports. The fund owned 287,517 shares of the company’s stock after selling 65,405 shares during the period. Allianz Asset Management GmbH’s holdings in Rush Enterprises were worth $15,374,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. American Century Companies Inc. raised its position in Rush Enterprises by 540.0% in the 2nd quarter. American Century Companies Inc. now owns 846,512 shares of the company’s stock valued at $43,604,000 after purchasing an additional 714,253 shares in the last quarter. Edgestream Partners L.P. increased its stake in shares of Rush Enterprises by 664.8% during the second quarter. Edgestream Partners L.P. now owns 98,962 shares of the company’s stock worth $5,098,000 after buying an additional 86,023 shares during the period. Segall Bryant & Hamill LLC increased its stake in shares of Rush Enterprises by 2.9% during the second quarter. Segall Bryant & Hamill LLC now owns 505,212 shares of the company’s stock worth $26,023,000 after buying an additional 14,387 shares during the period. EULAV Asset Management lifted its stake in Rush Enterprises by 17.1% in the third quarter. EULAV Asset Management now owns 276,100 shares of the company’s stock worth $14,763,000 after acquiring an additional 40,378 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. lifted its stake in Rush Enterprises by 4.5% in the second quarter. Global Alpha Capital Management Ltd. now owns 843,890 shares of the company’s stock worth $43,469,000 after acquiring an additional 36,600 shares during the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RUSHA has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Rush Enterprises in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Stephens cut their price target on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Finally, UBS Group assumed coverage on Rush Enterprises in a report on Wednesday, January 28th. They issued a “neutral” rating and a $70.00 price objective on the stock. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.50.

Rush Enterprises Price Performance

Shares of NASDAQ:RUSHA opened at $72.64 on Friday. Rush Enterprises, Inc. has a 12 month low of $45.67 and a 12 month high of $73.76. The firm has a market capitalization of $5.60 billion, a P/E ratio of 21.55, a P/E/G ratio of 0.89 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 0.34. The company’s fifty day moving average price is $59.14 and its 200 day moving average price is $55.47.

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.