AlphaQuest LLC Purchases 23,518 Shares of Rush Enterprises, Inc. $RUSHA

AlphaQuest LLC boosted its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 4,252.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,071 shares of the company’s stock after acquiring an additional 23,518 shares during the quarter. AlphaQuest LLC’s holdings in Rush Enterprises were worth $1,240,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Rush Enterprises by 29.4% in the 1st quarter. GAMMA Investing LLC now owns 1,267 shares of the company’s stock worth $68,000 after buying an additional 288 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Rush Enterprises by 5.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 43,353 shares of the company’s stock valued at $2,315,000 after acquiring an additional 2,131 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in Rush Enterprises by 1.8% during the first quarter. Illinois Municipal Retirement Fund now owns 33,792 shares of the company’s stock valued at $1,805,000 after purchasing an additional 607 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Rush Enterprises by 6.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 97,893 shares of the company’s stock worth $5,427,000 after purchasing an additional 6,210 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Rush Enterprises by 115.9% in the 1st quarter. Teacher Retirement System of Texas now owns 11,161 shares of the company’s stock worth $596,000 after purchasing an additional 5,992 shares in the last quarter. Institutional investors own 84.43% of the company’s stock.

Insiders Place Their Bets

In other Rush Enterprises news, SVP Michael L. Goldstone sold 4,500 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $57.25, for a total transaction of $257,625.00. Following the completion of the transaction, the senior vice president owned 12,510 shares of the company’s stock, valued at approximately $716,197.50. This trade represents a 26.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jason Wilder sold 4,980 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $55.55, for a total transaction of $276,639.00. Following the completion of the sale, the chief operating officer directly owned 79,692 shares in the company, valued at $4,426,890.60. This represents a 5.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,480 shares of company stock worth $862,104. 12.28% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

RUSHA has been the subject of several analyst reports. Stephens restated an “overweight” rating on shares of Rush Enterprises in a report on Monday, August 4th. Wall Street Zen downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Rush Enterprises in a research report on Saturday. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Rush Enterprises presently has a consensus rating of “Buy” and a consensus target price of $61.00.

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA opened at $50.61 on Friday. Rush Enterprises, Inc. has a 1 year low of $47.06 and a 1 year high of $65.43. The stock has a market capitalization of $3.94 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.45 and a beta of 0.89. The company’s 50-day moving average is $54.93 and its 200 day moving average is $53.01. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.39 and a quick ratio of 0.32.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings data on Thursday, May 20th. The company reported $0.79 EPS for the quarter. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.29%. The business had revenue of $1.23 billion during the quarter. On average, sell-side analysts expect that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Tuesday, August 12th were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This is a positive change from Rush Enterprises’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 1.5%. Rush Enterprises’s payout ratio is currently 21.65%.

About Rush Enterprises

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird, and Dennis Eagle.