Michael Mcroberts Sells 6,500 Shares of Rush Enterprises (NASDAQ:RUSHA) Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) Director Michael Mcroberts sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $81.44, for a total value of $529,360.00. Following the completion of the transaction, the director directly owned 16,229 shares in the company, valued at approximately $1,321,689.76. This trade represents a 28.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Rush Enterprises Trading Down 1.2%

Shares of RUSHA stock traded down $0.96 during trading hours on Wednesday, hitting $81.80. 269,508 shares of the company were exchanged, compared to its average volume of 489,492. The firm has a market cap of $6.36 billion, a P/E ratio of 24.64, a P/E/G ratio of 1.79 and a beta of 0.87. Rush Enterprises, Inc. has a fifty-two week low of $45.67 and a fifty-two week high of $83.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 1.45. The company has a 50 day simple moving average of $73.07 and a two-hundred day simple moving average of $70.28.

Shares of Rush Enterprises are set to split 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:RUSHA) last released its earnings results on Tuesday, July 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. Equities analysts anticipate that Rush Enterprises, Inc. will post 3.75 EPS for the current year.

Rush Enterprises Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Wednesday, September 9th will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, September 9th. This represents a $0.56 annualized dividend and a dividend yield of 0.7%. Rush Enterprises’s dividend payout ratio is currently 22.89%.

Institutional Investors Weigh In On Rush Enterprises

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wolfe Research started coverage on Rush Enterprises in a report on Monday, April 27th. They issued an “outperform” rating and a $88.00 price target on the stock. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Wall Street Zen downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a 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 company a “neutral” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Rush Enterprises presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

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.