Insider Selling: Rush Enterprises (NASDAQ:RUSHA) CEO Sells $579,533.76 in Stock

by · The Cerbat Gem

Rush Enterprises, Inc. (NASDAQ:RUSHA – Get Free Report) CEO William Rusty Rush sold 7,176 shares of the business’s 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 completion of the sale, the chief executive officer directly owned 174,154 shares of the company’s stock, valued at approximately $14,064,677.04. This trade represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Rush Enterprises Stock Performance

Shares of RUSHA stock traded up $1.17 during mid-day trading on Monday, hitting $80.96. 574,250 shares of the stock were exchanged, compared to its average volume of 490,922. The stock’s fifty day simple moving average is $72.57 and its two-hundred day simple moving average is $69.96. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 24.39, a P/E/G ratio of 1.77 and a beta of 0.87. Rush Enterprises, Inc. has a 12-month low of $45.67 and a 12-month high of $83.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 1.45.

Shares of Rush Enterprises are going to split on the morning of Tuesday, August 11th. The 3-2 split was recently announced. The newly created shares will be issued to shareholders after the market closes on Monday, August 10th.

Rush Enterprises (NASDAQ:RUSHA – Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%. On average, analysts forecast that Rush Enterprises, Inc. will post 3.75 EPS for the current year.

Rush Enterprises Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Wednesday, September 9th will be paid 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 yield of 0.7%. Rush Enterprises’s dividend payout ratio is currently 22.89%.

Institutional Trading of Rush Enterprises

Several institutional investors and hedge funds have recently made changes to their positions in RUSHA. Hsbc Holdings PLC purchased a new stake in Rush Enterprises during the 4th quarter worth about $776,000. SG Americas Securities LLC lifted its holdings in shares of Rush Enterprises by 63.9% during the 4th quarter. SG Americas Securities LLC now owns 27,040 shares of the company’s stock worth $1,459,000 after acquiring an additional 10,545 shares during the period. GW&K Investment Management LLC boosted its position in shares of Rush Enterprises by 7.6% in the fourth 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 raised its position 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 buying an additional 335,019 shares during the period. Finally, M&T Bank Corp boosted its holdings in Rush Enterprises by 322.0% in the fourth quarter. M&T Bank Corp now owns 21,956 shares of the company’s stock valued at $1,184,000 after acquiring an additional 16,753 shares during the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RUSHA shares. Wall Street Zen cut Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. Weiss Ratings raised shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. UBS Group increased their price target on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Stephens raised their target price on Rush Enterprises from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $87.00.

Read Our Latest Report on RUSHA

About Rush Enterprises

(Get Free Report)

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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