Insider Selling: Rush Enterprises (NASDAQ:RUSHA) CEO Sells 7,176 Shares of Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) CEO William Rusty Rush sold 7,176 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $80.76, for a total transaction of $579,533.76. Following the transaction, the chief executive officer directly owned 174,154 shares in the company, valued at approximately $14,064,677.04. The trade was a 3.96% 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.

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA traded up $1.17 during midday trading on Monday, hitting $80.96. The stock had a trading volume of 574,250 shares, compared to its average volume of 490,922. The company has a market capitalization of $6.29 billion, a PE ratio of 24.39, a P/E/G ratio of 1.77 and a beta of 0.87. The stock has a 50 day simple moving average of $72.57 and a 200-day simple moving average 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 on the morning of Tuesday, August 11th. The 3-2 split was recently announced. The newly created shares will be distributed to shareholders after the closing bell on Monday, August 10th.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Tuesday, July 28th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%. On average, sell-side analysts expect that Rush Enterprises, Inc. will post 3.75 EPS for the current fiscal year.

Rush Enterprises Cuts Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.7%. Rush Enterprises’s dividend payout ratio is currently 22.89%.

Wall Street Analysts Forecast Growth

RUSHA has been the subject of several research reports. Wall Street Zen downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. Wolfe Research started coverage on Rush Enterprises in a report on Monday, April 27th. They issued an “outperform” rating and a $88.00 price objective on the stock. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. UBS Group raised their target price on Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Finally, Stephens lifted their target price on Rush Enterprises from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $87.00.

Institutional Trading of Rush Enterprises

A number of large investors have recently made changes to their positions in the company. Jennison Associates LLC raised its position in shares of Rush Enterprises by 166.4% during the 1st quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock worth $74,139,000 after acquiring an additional 700,511 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Rush Enterprises by 174.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 955,989 shares of the company’s stock valued at $51,566,000 after purchasing an additional 607,047 shares during the last quarter. Pacer Advisors Inc. purchased a new position in Rush Enterprises in the fourth quarter valued at approximately $25,811,000. Millennium Management LLC raised its holdings in Rush Enterprises by 280.4% during the third quarter. Millennium Management LLC now owns 540,942 shares of the company’s stock worth $28,924,000 after purchasing an additional 398,721 shares in the last quarter. Finally, Cooke & Bieler LP lifted its position in shares of Rush Enterprises by 85.0% during the 4th quarter. Cooke & Bieler LP now owns 729,250 shares of the company’s stock worth $39,336,000 after buying an additional 335,019 shares during the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

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.