Rush Enterprises (NASDAQ:RUSHA) CEO Sells $5,801,072.70 in Stock

Rush Enterprises, Inc. (NASDAQ:RUSHAGet Free Report) CEO William Rusty Rush sold 71,574 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $81.05, for a total transaction of $5,801,072.70. Following the completion of the sale, the chief executive officer owned 174,154 shares of the company’s stock, valued at approximately $14,115,181.70. The trade was a 29.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Rush Enterprises Price Performance

Shares of Rush Enterprises stock traded up $1.17 on Monday, hitting $80.96. 574,250 shares of the company were exchanged, compared to its average volume of 490,922. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87. The company has a 50-day moving average price of $72.57 and a 200 day moving average price of $69.96. Rush Enterprises, Inc. has a 1-year low of $45.67 and a 1-year high of $83.50. The company has a quick ratio of 0.38, a current ratio of 1.45 and a debt-to-equity ratio of 0.16.

Rush Enterprises shares are set to split before the market opens on Tuesday, August 11th. The 3-2 split was recently announced. The newly minted shares will be payable to shareholders after the market closes on Monday, August 10th.

Rush Enterprises (NASDAQ:RUSHAGet Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%.The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. As a group, sell-side analysts predict that Rush Enterprises, Inc. will post 3.75 earnings per share for the current fiscal year.

Rush Enterprises Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Wednesday, September 9th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.7%. Rush Enterprises’s dividend payout ratio (DPR) is 22.89%.

Wall Street Analyst Weigh In

RUSHA has been the topic of several recent research reports. Wall Street Zen cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. UBS Group raised their price objective on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Weiss Ratings raised shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 23rd. Wolfe Research began coverage on shares of Rush Enterprises in a report on Monday, April 27th. They set an “outperform” rating and a $88.00 price target for the company. Finally, Stephens lifted their price target on shares of Rush Enterprises from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

Read Our Latest Research Report on RUSHA

Institutional Trading of Rush Enterprises

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC purchased a new position in Rush Enterprises during the fourth quarter worth about $776,000. SG Americas Securities LLC raised its stake in shares of Rush Enterprises by 63.9% in the 4th quarter. SG Americas Securities LLC now owns 27,040 shares of the company’s stock valued at $1,459,000 after acquiring an additional 10,545 shares during the period. GW&K Investment Management LLC lifted its holdings in shares of Rush Enterprises by 7.6% in the 4th quarter. GW&K Investment Management LLC now owns 350,952 shares of the company’s stock worth $18,930,000 after acquiring an additional 24,781 shares during the last quarter. Cooke & Bieler LP lifted its holdings in shares of Rush Enterprises by 85.0% in the 4th quarter. Cooke & Bieler LP now owns 729,250 shares of the company’s stock worth $39,336,000 after acquiring an additional 335,019 shares during the last quarter. Finally, Denali Advisors LLC boosted its position in shares of Rush Enterprises by 10.0% during the 4th quarter. Denali Advisors LLC now owns 148,811 shares of the company’s stock worth $8,027,000 after purchasing an additional 13,515 shares during the period. 84.43% of the stock is owned by institutional investors and hedge funds.

Rush Enterprises Company Profile

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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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Insider Buying and Selling by Quarter for Rush Enterprises (NASDAQ:RUSHA)

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