Dynamic Technology Lab Private Ltd Buys Shares of 4,670 Rush Enterprises, Inc. (NASDAQ:RUSHA)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,670 shares of the company’s stock, valued at approximately $247,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quarry LP acquired a new position in shares of Rush Enterprises in the second quarter valued at about $36,000. Blue Trust Inc. boosted its position in Rush Enterprises by 266.1% in the third quarter. Blue Trust Inc. now owns 703 shares of the company’s stock valued at $37,000 after buying an additional 511 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in Rush Enterprises by 41.3% in the 2nd quarter. Hexagon Capital Partners LLC now owns 982 shares of the company’s stock worth $41,000 after buying an additional 287 shares during the period. Strategic Financial Concepts LLC purchased a new position in Rush Enterprises during the 2nd quarter worth approximately $41,000. Finally, GAMMA Investing LLC lifted its stake in Rush Enterprises by 147.5% during the 3rd quarter. GAMMA Investing LLC now owns 787 shares of the company’s stock valued at $42,000 after acquiring an additional 469 shares during the period. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Rush Enterprises Price Performance

RUSHA stock opened at $61.95 on Monday. Rush Enterprises, Inc. has a 1 year low of $39.25 and a 1 year high of $65.15. 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 firm has a market capitalization of $4.90 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 2.34 and a beta of 0.99. The business has a 50 day simple moving average of $56.12 and a 200-day simple moving average of $50.36.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.84 billion. During the same period in the prior year, the business earned $0.96 EPS. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. Equities research analysts anticipate that Rush Enterprises, Inc. will post 3.45 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Tuesday, November 12th. Rush Enterprises’s dividend payout ratio is presently 19.10%.

Wall Street Analysts Forecast Growth

Separately, Stephens raised their target price on Rush Enterprises from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, November 1st.

Insider Buying and Selling

In other news, CEO William M. Rusty Rush sold 117,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $63.98, for a total value of $7,517,650.00. Following the completion of the transaction, the chief executive officer now owns 174,154 shares of the company’s stock, valued at approximately $11,142,372.92. This trade represents a 40.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Steven L. Keller sold 14,625 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $58.50, for a total transaction of $855,562.50. Following the sale, the chief financial officer now directly owns 83,365 shares in the company, valued at approximately $4,876,852.50. The trade was a 14.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 176,000 shares of company stock valued at $11,167,173. 12.53% of the stock is currently owned by insiders.

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.