Rush Enterprises, Inc. $RUSHA Stake Lowered by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC decreased its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 33.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,336 shares of the company’s stock after selling 10,050 shares during the period. Oliver Luxxe Assets LLC’s holdings in Rush Enterprises were worth $1,484,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in RUSHA. Root Financial Partners LLC boosted its position in Rush Enterprises by 75.4% during the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares during the period. CIBC Private Wealth Group LLC increased its position in Rush Enterprises by 495.4% in the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after buying an additional 431 shares during the period. Private Trust Co. NA increased its position in Rush Enterprises by 211.4% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $29,000 after buying an additional 370 shares during the period. Measured Wealth Private Client Group LLC bought a new stake in Rush Enterprises in the third quarter valued at $34,000. Finally, Allworth Financial LP lifted its stake in Rush Enterprises by 5,790.9% in the third quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $35,000 after buying an additional 637 shares during the last quarter. Institutional investors own 84.43% of the company’s stock.

Insider Activity at Rush Enterprises

In other news, CEO William M. Rusty Rush sold 71,574 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $81.05, for a total value of $5,801,072.70. Following the completion of the sale, the chief executive officer directly owned 174,154 shares of the company’s stock, valued at approximately $14,115,181.70. This represents a 29.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Steven L. Keller sold 20,678 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $80.73, for a total transaction of $1,669,334.94. Following the completion of the transaction, the chief financial officer owned 84,374 shares of the company’s stock, valued at $6,811,513.02. This trade represents a 19.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 112,250 shares of company stock valued at $9,092,352. 12.68% of the stock is currently owned by insiders.

Rush Enterprises Stock Performance

NASDAQ:RUSHA opened at $80.08 on Monday. The stock has a market cap of $6.22 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 1.77 and a beta of 0.87. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 1.45. Rush Enterprises, Inc. has a 1 year low of $45.67 and a 1 year high of $83.61. The business has a fifty day moving average of $73.65 and a 200-day moving average of $70.69.

Rush Enterprises’s stock is scheduled to split on the morning of Tuesday, August 11th. The 3-2 split was recently announced. The newly created shares will be payable to shareholders after the market closes on Monday, August 10th.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. Equities analysts predict that Rush Enterprises, Inc. will post 3.75 earnings per share for the current year.

Rush Enterprises Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Wednesday, September 9th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 9th. Rush Enterprises’s payout ratio is 16.87%.

Analyst Ratings Changes

Several research firms have recently commented on RUSHA. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. UBS Group lifted their price objective on shares of Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Wall Street Zen cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. Wolfe Research began coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They issued an “outperform” rating and a $88.00 target price for the company. Finally, Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 23rd. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Rush Enterprises Profile

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.