Insider Selling: Rush Enterprises (NASDAQ:RUSHA) CFO Sells $1,669,334.94 in Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) CFO Steven Keller sold 20,678 shares of Rush Enterprises stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $80.73, for a total transaction of $1,669,334.94. Following the completion of the transaction, the chief financial officer owned 84,374 shares of the company’s stock, valued at $6,811,513.02. The trade was a 19.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rush Enterprises Stock Performance

Shares of RUSHA stock opened at $81.80 on Thursday. The firm’s 50 day moving average is $73.26 and its 200 day moving average is $70.43. The stock has a market capitalization of $6.36 billion, a P/E ratio of 24.64, a PEG ratio of 1.83 and a beta of 0.87. Rush Enterprises, Inc. has a 12 month low of $45.67 and a 12 month high of $83.61. The company has a current ratio of 1.45, a quick ratio of 0.38 and a debt-to-equity ratio of 0.16.

Rush Enterprises’s stock is scheduled to split before the market opens on Tuesday, August 11th. The 3-2 split was recently announced. The newly created shares will be distributed to shareholders after the market closes on Monday, August 10th.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The business had revenue of $1.90 billion during 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%. On average, sell-side analysts anticipate that Rush Enterprises, Inc. will post 3.75 earnings per share for the current year.

Rush Enterprises Cuts Dividend

The business also recently declared 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. The ex-dividend date is Wednesday, September 9th. This represents a $0.56 annualized dividend and a dividend yield of 0.7%. Rush Enterprises’s payout ratio is 22.89%.

Analyst Upgrades and Downgrades

Several research analysts have commented on RUSHA shares. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. 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. Stephens raised their price objective on shares of Rush Enterprises from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Wall Street Zen cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, June 14th. Finally, Wolfe Research began coverage on shares of Rush Enterprises in a report on Monday, April 27th. They set an “outperform” rating and a $88.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.00.

Hedge Funds Weigh In On Rush Enterprises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RUSHA. Root Financial Partners LLC raised its holdings in shares of Rush Enterprises by 75.4% in the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Rush Enterprises by 495.4% during the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after purchasing an additional 431 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of Rush Enterprises by 211.4% during the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $29,000 after purchasing an additional 370 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of Rush Enterprises in the third quarter worth approximately $34,000. Finally, Allworth Financial LP increased its position in shares of Rush Enterprises by 5,790.9% in the third quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after purchasing an additional 637 shares during the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

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.