Renaissance Technologies LLC Sells 41,165 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

Renaissance Technologies LLC cut its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 14.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 246,149 shares of the company’s stock after selling 41,165 shares during the period. Renaissance Technologies LLC owned 0.31% of Rush Enterprises worth $10,306,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Rush Enterprises by 6.1% in the 4th quarter. Vanguard Group Inc. now owns 7,336,456 shares of the company’s stock valued at $369,024,000 after purchasing an additional 420,978 shares during the period. UniSuper Management Pty Ltd bought a new position in Rush Enterprises in the 1st quarter valued at $612,000. Edgestream Partners L.P. bought a new position in Rush Enterprises in the 1st quarter valued at $898,000. Janney Montgomery Scott LLC bought a new position in Rush Enterprises in the 1st quarter valued at $625,000. Finally, Wasatch Advisors LP boosted its holdings in Rush Enterprises by 27.6% in the 4th quarter. Wasatch Advisors LP now owns 412,335 shares of the company’s stock valued at $20,740,000 after purchasing an additional 89,184 shares during the period. 84.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Stephens began coverage on shares of Rush Enterprises in a report on Monday, July 8th. They issued an “overweight” rating for the company.

Insider Buying and Selling

In related news, COO Michael Mcroberts sold 12,500 shares of Rush Enterprises stock in a transaction on Friday, August 9th. The shares were sold at an average price of $50.72, for a total value of $634,000.00. Following the transaction, the chief operating officer now owns 15,220 shares in the company, valued at approximately $771,958.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Michael Mcroberts sold 12,500 shares of Rush Enterprises stock in a transaction on Friday, August 9th. The shares were sold at an average price of $50.72, for a total value of $634,000.00. Following the transaction, the chief operating officer now owns 15,220 shares in the company, valued at approximately $771,958.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William M. Rusty Rush sold 40,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $53.81, for a total transaction of $2,152,400.00. Following the completion of the sale, the chief executive officer now directly owns 174,154 shares in the company, valued at approximately $9,371,226.74. The disclosure for this sale can be found here. Insiders have sold a total of 64,875 shares of company stock worth $3,422,554 in the last 90 days. 12.53% of the stock is owned by company insiders.

Rush Enterprises Stock Performance

Rush Enterprises stock opened at $52.42 on Tuesday. The firm’s fifty day moving average price is $50.71 and its 200-day moving average price is $47.83. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.28 and a current ratio of 1.40. The stock has a market cap of $4.12 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01. Rush Enterprises, Inc. has a fifty-two week low of $34.68 and a fifty-two week high of $56.64.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.20. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Rush Enterprises had a net margin of 3.90% and a return on equity of 15.85%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $1.17 EPS. On average, equities research analysts expect that Rush Enterprises, Inc. will post 3.44 earnings per share for the current fiscal year.

Rush Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 13th were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.72 annualized dividend and a dividend yield of 1.37%. This is a boost from Rush Enterprises’s previous quarterly dividend of $0.17. Rush Enterprises’s dividend payout ratio (DPR) is 18.18%.

Rush Enterprises Company Profile

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.