Rush Enterprises, Inc. (NASDAQ:RUSHA) Position Increased by Algert Global LLC

Algert Global LLC raised its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 284.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 159,610 shares of the company’s stock after purchasing an additional 118,041 shares during the period. Algert Global LLC owned about 0.20% of Rush Enterprises worth $8,432,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of Rush Enterprises during the second quarter valued at $36,000. Blue Trust Inc. boosted its holdings in shares of Rush Enterprises by 266.1% during the third quarter. Blue Trust Inc. now owns 703 shares of the company’s stock valued at $37,000 after acquiring an additional 511 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of Rush Enterprises by 41.3% during the second quarter. Hexagon Capital Partners LLC now owns 982 shares of the company’s stock valued at $41,000 after acquiring an additional 287 shares during the period. Strategic Financial Concepts LLC acquired a new stake in Rush Enterprises in the second quarter worth about $41,000. Finally, GAMMA Investing LLC lifted its holdings in Rush Enterprises by 147.5% in the third quarter. GAMMA Investing LLC now owns 787 shares of the company’s stock worth $42,000 after purchasing an additional 469 shares during the period. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Stock Performance

Rush Enterprises stock opened at $60.00 on Friday. Rush Enterprises, Inc. has a fifty-two week low of $38.43 and a fifty-two week high of $65.15. The firm’s 50 day simple moving average is $55.11 and its 200-day simple moving average is $49.80. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 0.28. The company has a market cap of $4.74 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 2.24 and a beta of 0.99.

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.02. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the company earned $0.96 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities research analysts predict that Rush Enterprises, Inc. will post 3.45 EPS for the current year.

Rush Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Tuesday, November 12th. Rush Enterprises’s dividend payout ratio is currently 19.10%.

Analyst Ratings Changes

Separately, Stephens upped their price objective on shares of Rush Enterprises from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, November 1st.

Insider Transactions at Rush Enterprises

In related news, CEO William M. Rusty Rush sold 117,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $63.98, for a total value of $7,517,650.00. Following the completion of the sale, the chief executive officer now directly owns 174,154 shares in the company, valued at approximately $11,142,372.92. The trade was a 40.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven L. Keller sold 43,875 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $63.68, for a total value of $2,793,960.00. Following the completion of the sale, the chief financial officer now owns 83,365 shares of the company’s stock, valued at approximately $5,308,683.20. This trade represents a 34.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 176,000 shares of company stock valued at $11,167,173. 12.53% of the stock is owned by insiders.

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.