GAMMA Investing LLC Boosts Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

GAMMA Investing LLC raised its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 24.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 979 shares of the company’s stock after buying an additional 192 shares during the quarter. GAMMA Investing LLC’s holdings in Rush Enterprises were worth $54,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. FMR LLC grew its holdings in shares of Rush Enterprises by 34.8% during the third quarter. FMR LLC now owns 5,174,262 shares of the company’s stock worth $273,356,000 after purchasing an additional 1,336,528 shares in the last quarter. State Street Corp grew its holdings in shares of Rush Enterprises by 0.7% during the third quarter. State Street Corp now owns 2,349,597 shares of the company’s stock worth $124,129,000 after purchasing an additional 16,082 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Rush Enterprises by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,616,048 shares of the company’s stock worth $85,390,000 after purchasing an additional 16,803 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Rush Enterprises by 13.2% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,186,393 shares of the company’s stock worth $62,677,000 after purchasing an additional 138,488 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. grew its holdings in shares of Rush Enterprises by 1.9% during the third quarter. Global Alpha Capital Management Ltd. now owns 773,990 shares of the company’s stock worth $40,890,000 after purchasing an additional 14,600 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Rush Enterprises

In related news, CEO William M. Rusty Rush sold 117,500 shares of the company’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 transaction of $7,517,650.00. Following the completion of the transaction, the chief executive officer now owns 174,154 shares in the company, valued at $11,142,372.92. This represents a 40.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven L. Keller sold 14,625 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $58.50, for a total value of $855,562.50. Following the transaction, the chief financial officer now owns 83,365 shares of the company’s stock, valued at approximately $4,876,852.50. This represents a 14.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 176,000 shares of company stock worth $11,167,173 over the last quarter. 12.53% of the stock is owned by corporate insiders.

Rush Enterprises Stock Down 1.5 %

Shares of RUSHA opened at $54.58 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 0.28. Rush Enterprises, Inc. has a 1 year low of $40.99 and a 1 year high of $65.15. The stock has a 50 day simple moving average of $58.99 and a two-hundred day simple moving average of $53.28. The firm has a market cap of $4.31 billion, a P/E ratio of 14.48, a P/E/G ratio of 2.14 and a beta of 1.02.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.97 earnings per share 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 firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. On average, analysts forecast that Rush Enterprises, Inc. will post 3.64 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were given a $0.18 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.72 annualized dividend and a yield of 1.32%. Rush Enterprises’s payout ratio is currently 19.10%.

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.