Insider Selling: Rush Enterprises (NASDAQ:RUSHA) Director Sells $529,360.00 in Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) Director Michael Mcroberts sold 6,500 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $81.44, for a total transaction of $529,360.00. Following the completion of the sale, the director directly owned 16,229 shares in the company, valued at $1,321,689.76. This trade represents a 28.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rush Enterprises Stock Up 0.4%

NASDAQ:RUSHA opened at $80.08 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.45 and a quick ratio of 0.38. The company’s fifty day moving average price is $73.65 and its 200-day moving average price is $70.62. Rush Enterprises, Inc. has a 1-year low of $45.67 and a 1-year high of $83.61. The firm has a market capitalization of $6.22 billion, a P/E ratio of 24.12, a PEG ratio of 1.76 and a beta of 0.87.

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

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. As a group, equities research analysts anticipate that Rush Enterprises, Inc. will post 3.75 EPS for the current year.

Rush Enterprises Cuts Dividend

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

Hedge Funds Weigh In On Rush Enterprises

Large investors have recently bought and sold shares of the business. Commerzbank Aktiengesellschaft FI purchased a new position in Rush Enterprises during the second quarter worth approximately $2,678,000. Plato Investment Management Ltd purchased a new stake in shares of Rush Enterprises in the second quarter valued at approximately $996,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Rush Enterprises during the 2nd quarter worth approximately $112,882,000. S&CO Inc. acquired a new position in shares of Rush Enterprises during the 2nd quarter worth approximately $2,288,000. Finally, Baron Wealth Management LLC lifted its position in shares of Rush Enterprises by 22.4% during the 2nd quarter. Baron Wealth Management LLC now owns 3,732 shares of the company’s stock valued at $272,000 after buying an additional 682 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RUSHA. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Wolfe Research assumed coverage on Rush Enterprises in a research report on Monday, April 27th. They issued an “outperform” rating and a $88.00 price objective on the stock. Wall Street Zen cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, June 14th. UBS Group lifted their target price on shares of Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Finally, Stephens boosted their target price on shares of Rush Enterprises from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Rush Enterprises currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

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.