Harspring Capital Management LLC reduced its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA – Free Report) by 20.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 180,000 shares of the company’s stock after selling 45,000 shares during the period. Rush Enterprises comprises about 6.3% of Harspring Capital Management LLC’s holdings, making the stock its 8th largest holding. Harspring Capital Management LLC owned about 0.23% of Rush Enterprises worth $11,900,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of RUSHA. Royal Bank of Canada raised its holdings in shares of Rush Enterprises by 33.6% in the 1st quarter. Royal Bank of Canada now owns 10,786 shares of the company’s stock valued at $575,000 after buying an additional 2,715 shares during the period. AQR Capital Management LLC boosted its holdings in Rush Enterprises by 8.0% during the 1st quarter. AQR Capital Management LLC now owns 24,509 shares of the company’s stock valued at $1,309,000 after acquiring an additional 1,806 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Rush Enterprises by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,225 shares of the company’s stock valued at $1,935,000 after acquiring an additional 1,592 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Rush Enterprises by 18.4% during the first quarter. Goldman Sachs Group Inc. now owns 390,387 shares of the company’s stock worth $20,851,000 after purchasing an additional 60,615 shares during the period. Finally, Caxton Associates LLP purchased a new stake in Rush Enterprises during the first quarter worth about $221,000. 84.43% of the stock is owned by institutional investors and hedge funds.
Rush Enterprises Stock Up 0.6%
Shares of NASDAQ:RUSHA opened at $76.35 on Thursday. Rush Enterprises, Inc. has a fifty-two week low of $45.67 and a fifty-two week high of $80.17. The firm’s 50 day moving average price is $71.27 and its 200 day moving average price is $68.90. The company has a quick ratio of 0.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 1.68 and a beta of 0.89.
Rush Enterprises Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 12th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, May 12th. Rush Enterprises’s dividend payout ratio is 22.96%.
Analyst Ratings Changes
RUSHA has been the subject of several recent research reports. Weiss Ratings lowered shares of Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Wall Street Zen lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. UBS Group boosted their price target on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Finally, Wolfe Research started coverage on Rush Enterprises in a research note on Monday, April 27th. They issued an “outperform” rating and a $88.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Rush Enterprises has an average rating of “Hold” and an average price target of $83.67.
Read Our Latest Stock Analysis on Rush Enterprises
Insiders Place Their Bets
In other Rush Enterprises news, Director Michael Mcroberts sold 8,000 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total value of $577,840.00. Following the sale, the director directly owned 16,229 shares in the company, valued at $1,172,220.67. This trade represents a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.68% of the stock is currently owned by corporate insiders.
Rush Enterprises 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.
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