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

Rush Enterprises, Inc. (NASDAQ:RUSHA) CEO William Rusty Rush sold 7,176 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $80.76, for a total value of $579,533.76. Following the transaction, the chief executive officer directly owned 174,154 shares of the company’s stock, valued at $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 SEC, which is accessible through this link.

Rush Enterprises Stock Down 1.2%

NASDAQ:RUSHA opened at $81.80 on Thursday. Rush Enterprises, Inc. has a twelve month low of $45.67 and a twelve month high of $83.61. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 1.83 and a beta of 0.87. The company has a quick ratio of 0.38, a current ratio of 1.45 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average price is $73.26 and its two-hundred day moving average price is $70.43.

Shares of Rush Enterprises are scheduled to split on 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) last released 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 analysts’ expectations of $1.89 billion. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. Equities research analysts expect that Rush Enterprises, Inc. will post 3.75 earnings per share for the current fiscal year.

Rush Enterprises Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Wednesday, September 9th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Rush Enterprises’s dividend payout ratio (DPR) is 22.89%.

Institutional Trading of Rush Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Root Financial Partners LLC increased its holdings in shares of Rush Enterprises by 75.4% during the first quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock worth $27,000 after buying an additional 175 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in shares of Rush Enterprises by 1.1% in the 4th quarter. Kestra Advisory Services LLC now owns 17,907 shares of the company’s stock valued at $966,000 after acquiring an additional 200 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Rush Enterprises by 0.4% during the 2nd quarter. California State Teachers Retirement System now owns 57,375 shares of the company’s stock valued at $2,955,000 after acquiring an additional 208 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in Rush Enterprises by 44.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 748 shares of the company’s stock worth $40,000 after acquiring an additional 230 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in Rush Enterprises by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 35,188 shares of the company’s stock worth $1,897,000 after acquiring an additional 251 shares during the last quarter. Institutional investors own 84.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. Wolfe Research began coverage on Rush Enterprises in a research report on Monday, April 27th. They set an “outperform” rating and a $88.00 price target on the stock. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Weiss Ratings upgraded Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 23rd. Finally, Stephens lifted their target price on Rush Enterprises from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $87.00.

About Rush Enterprises

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.