GAMMA Investing LLC Has $42,000 Stock Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

GAMMA Investing LLC boosted its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 147.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 787 shares of the company’s stock after purchasing an additional 469 shares during the quarter. GAMMA Investing LLC’s holdings in Rush Enterprises were worth $42,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. SG Americas Securities LLC lifted its holdings in shares of Rush Enterprises by 291.1% in the third quarter. SG Americas Securities LLC now owns 10,506 shares of the company’s stock worth $555,000 after acquiring an additional 7,820 shares during the last quarter. Quarry LP bought a new position in shares of Rush Enterprises in the 2nd quarter worth about $36,000. Algert Global LLC boosted its holdings in shares of Rush Enterprises by 62.0% during the 2nd quarter. Algert Global LLC now owns 41,569 shares of the company’s stock worth $1,740,000 after buying an additional 15,911 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Rush Enterprises by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,270 shares of the company’s stock worth $1,477,000 after purchasing an additional 405 shares in the last quarter. Finally, Caxton Associates LP acquired a new stake in Rush Enterprises in the second quarter valued at approximately $222,000. 84.43% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO William M. Rusty Rush sold 40,000 shares of Rush Enterprises stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $53.81, for a total value of $2,152,400.00. Following the sale, the chief executive officer now owns 174,154 shares of the company’s stock, valued at approximately $9,371,226.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO William M. Rusty Rush sold 40,000 shares of Rush Enterprises stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $53.81, for a total value of $2,152,400.00. Following the completion of the sale, the chief executive officer now owns 174,154 shares of the company’s stock, valued at approximately $9,371,226.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Michael Mcroberts sold 12,500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $50.72, for a total transaction of $634,000.00. Following the sale, the chief operating officer now directly owns 15,220 shares in the company, valued at approximately $771,958.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,875 shares of company stock valued at $3,422,554 in the last three months. Company insiders own 12.53% of the company’s stock.

Analysts Set New Price Targets

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

Rush Enterprises Stock Down 0.7 %

Rush Enterprises stock opened at $52.38 on Friday. The firm’s 50-day simple moving average is $51.37 and its 200 day simple moving average is $48.02. The stock has a market cap of $4.13 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.98 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. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.28 and a current ratio of 1.40.

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Wednesday, July 31st. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.20. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Rush Enterprises had a return on equity of 15.85% and a net margin of 3.90%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.17 EPS. Research analysts predict that Rush Enterprises, Inc. will post 3.44 EPS for the current fiscal year.

Rush Enterprises Increases Dividend

The business also recently announced 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. This is an increase from Rush Enterprises’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Tuesday, August 13th. Rush Enterprises’s dividend payout ratio is currently 19.15%.

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.