Rush Enterprises, Inc. $RUSHA Holdings Lowered by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL cut its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,506 shares of the company’s stock after selling 18,779 shares during the period. Tudor Investment Corp ET AL owned approximately 0.30% of Rush Enterprises worth $12,272,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Farther Finance Advisors LLC raised its holdings in Rush Enterprises by 250.0% during the third quarter. Farther Finance Advisors LLC now owns 511 shares of the company’s stock worth $27,000 after purchasing an additional 365 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Rush Enterprises by 495.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock valued at $28,000 after purchasing an additional 431 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in shares of Rush Enterprises during the 3rd quarter valued at $34,000. Allworth Financial LP raised its stake in shares of Rush Enterprises by 5,790.9% in the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after buying an additional 637 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Rush Enterprises by 427.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the company’s stock worth $40,000 after buying an additional 633 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Rush Enterprises Stock Performance

RUSHA opened at $65.74 on Monday. The firm has a market cap of $5.06 billion, a PE ratio of 20.10, a P/E/G ratio of 0.81 and a beta of 0.89. The company has a quick ratio of 0.37, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $67.80 and a 200-day simple moving average of $58.76. Rush Enterprises, Inc. has a fifty-two week low of $45.67 and a fifty-two week high of $75.99.

Rush Enterprises (NASDAQ:RUSHA) last announced its earnings results on Tuesday, February 17th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. Rush Enterprises had a return on equity of 11.96% and a net margin of 3.55%.The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. As a group, equities analysts predict that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Tuesday, March 3rd were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.2%. The ex-dividend date was Tuesday, March 3rd. Rush Enterprises’s payout ratio is presently 23.24%.

Insider Activity

In other news, Director Raymond Joseph Chess sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $65.05, for a total transaction of $650,500.00. Following the sale, the director owned 41,170 shares in the company, valued at $2,678,108.50. The trade was a 19.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jody Pollard sold 11,250 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $71.92, for a total transaction of $809,100.00. Following the completion of the sale, the senior vice president owned 3,385 shares of the company’s stock, valued at approximately $243,449.20. This trade represents a 76.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 33,750 shares of company stock valued at $2,349,450 over the last ninety days. Corporate insiders own 12.28% of the company’s stock.

Analysts Set New Price Targets

RUSHA has been the subject of several research reports. Wall Street Zen cut Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. UBS Group reiterated a “neutral” rating and issued a $73.00 price target (up from $70.00) on shares of Rush Enterprises in a research report on Wednesday, February 18th. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 25th. Finally, Stephens reaffirmed an “overweight” rating and issued a $80.00 price objective (up from $55.00) on shares of Rush Enterprises in a research note on Thursday, February 19th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Rush Enterprises presently has an average rating of “Moderate Buy” and a consensus target price of $76.50.

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.