Rush Enterprises, Inc. $RUSHA is Harspring Capital Management LLC’s 8th Largest Position

Harspring Capital Management LLC trimmed its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 20.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,000 shares of the company’s stock after selling 45,000 shares during the period. Rush Enterprises makes up 6.3% of Harspring Capital Management LLC’s investment portfolio, making the stock its 8th largest holding. Harspring Capital Management LLC’s holdings in Rush Enterprises were worth $11,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State of Wyoming lifted its position in Rush Enterprises by 38.9% in the first quarter. State of Wyoming now owns 18,561 shares of the company’s stock valued at $1,227,000 after acquiring an additional 5,195 shares during the last quarter. Cetera Investment Advisers purchased a new position in shares of Rush Enterprises during the first quarter worth about $223,000. Measured Wealth Private Client Group LLC grew its holdings in shares of Rush Enterprises by 857.8% during the first quarter. Measured Wealth Private Client Group LLC now owns 3,582 shares of the company’s stock worth $237,000 after purchasing an additional 3,208 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Rush Enterprises by 40.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,490 shares of the company’s stock worth $99,000 after purchasing an additional 429 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. acquired a new stake in shares of Rush Enterprises during the first quarter worth about $3,655,000. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Rush Enterprises Price Performance

Shares of NASDAQ:RUSHA opened at $76.35 on Thursday. Rush Enterprises, Inc. has a one year low of $45.67 and a one year high of $80.17. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.68 and a beta of 0.89. The company has a 50-day simple moving average of $71.27 and a 200-day simple moving average of $68.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.73 billion. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%. On average, analysts predict that Rush Enterprises, Inc. will post 3.75 EPS for the current year.

Rush Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 12th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Tuesday, May 12th. Rush Enterprises’s dividend payout ratio (DPR) is 22.96%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. 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. Stephens reiterated an “overweight” rating and issued a $85.00 price objective on shares of Rush Enterprises in a research note on Tuesday, May 19th. Weiss Ratings downgraded Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Finally, UBS Group raised their target price on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Rush Enterprises has an average rating of “Hold” and an average price target of $83.67.

Insider Activity

In other news, Director Michael Mcroberts sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total value of $577,840.00. Following the transaction, the director owned 16,229 shares of the company’s stock, valued at approximately $1,172,220.67. The trade was a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 12.68% of the company’s stock.

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.