Peregrine Capital Management LLC Has $7.89 Million Stake in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Peregrine Capital Management LLC decreased its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 0.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 215,938 shares of the company’s stock after selling 1,109 shares during the period. Peregrine Capital Management LLC’s holdings in Rush Enterprises were worth $7,886,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of Rush Enterprises by 10.0% during the first quarter. JPMorgan Chase & Co. now owns 1,616,751 shares of the company’s stock valued at $67,596,000 after purchasing an additional 147,225 shares during the period. Geode Capital Management LLC raised its holdings in shares of Rush Enterprises by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 524,487 shares of the company’s stock valued at $18,084,000 after purchasing an additional 13,422 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Rush Enterprises by 2.5% during the first quarter. Clearbridge Investments LLC now owns 453,426 shares of the company’s stock valued at $18,958,000 after purchasing an additional 11,220 shares during the period. Bank of America Corp DE raised its holdings in shares of Rush Enterprises by 4.8% during the fourth quarter. Bank of America Corp DE now owns 367,500 shares of the company’s stock valued at $12,671,000 after purchasing an additional 16,885 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Rush Enterprises by 23.6% during the fourth quarter. Bank of New York Mellon Corp now owns 359,345 shares of the company’s stock valued at $12,391,000 after purchasing an additional 68,625 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Shares of NASDAQ:RUSHA traded up $0.10 during midday trading on Thursday, hitting $37.76. 1,669 shares of the company’s stock were exchanged, compared to its average volume of 189,143. The company has a current ratio of 1.10, a quick ratio of 0.21 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average price is $35.93. The stock has a market cap of $1.37 billion, a P/E ratio of 9.85, a PEG ratio of 0.61 and a beta of 1.33. Rush Enterprises, Inc. has a 12 month low of $31.53 and a 12 month high of $45.99.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Wednesday, July 24th. The company reported $1.10 EPS for the quarter, hitting the consensus estimate of $1.10. The company had revenue of $1.54 billion during the quarter. Rush Enterprises had a net margin of 2.88% and a return on equity of 15.50%. Analysts expect that Rush Enterprises, Inc. will post 4.09 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, August 8th. This is an increase from Rush Enterprises’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.38%. Rush Enterprises’s payout ratio is presently 12.47%.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Thursday, June 6th. Longbow Research lowered shares of Rush Enterprises from a “buy” rating to a “neutral” rating in a report on Monday, May 6th. ValuEngine upgraded shares of Rush Enterprises from a “strong sell” rating to a “sell” rating in a report on Friday, July 26th. Finally, BidaskClub upgraded shares of Rush Enterprises from a “sell” rating to a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Rush Enterprises presently has an average rating of “Hold” and an average target price of $43.00.

About Rush Enterprises

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, Mitsubishi Fuso, IC Bus, or Blue Bird; provides new and used commercial vehicles, and aftermarket parts, as well as service and repair, financing, and leasing and rental services; and offers property and casualty insurance, including collision and liability insurance on commercial vehicles, cargo insurance, and credit life insurance to its commercial vehicle customers.

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Institutional Ownership by Quarter for Rush Enterprises (NASDAQ:RUSHA)

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