Denali Advisors LLC Increases Stake in Rush Enterprises, Inc. $RUSHA

Denali Advisors LLC raised its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 9.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 131,737 shares of the company’s stock after purchasing an additional 11,808 shares during the period. Denali Advisors LLC’s holdings in Rush Enterprises were worth $6,786,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Jennison Associates LLC grew its position in shares of Rush Enterprises by 73.3% in the 1st quarter. Jennison Associates LLC now owns 882,911 shares of the company’s stock valued at $47,156,000 after buying an additional 373,531 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of Rush Enterprises by 303.4% in the 2nd quarter. Allianz Asset Management GmbH now owns 352,922 shares of the company’s stock valued at $18,179,000 after buying an additional 265,432 shares during the last quarter. Nuveen LLC purchased a new position in shares of Rush Enterprises in the 1st quarter valued at $9,667,000. Jane Street Group LLC grew its position in shares of Rush Enterprises by 605.6% in the 1st quarter. Jane Street Group LLC now owns 153,189 shares of the company’s stock valued at $8,182,000 after buying an additional 131,480 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Rush Enterprises by 423.4% in the 1st quarter. American Century Companies Inc. now owns 132,259 shares of the company’s stock valued at $7,064,000 after buying an additional 106,991 shares during the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

Rush Enterprises Stock Up 0.8%

Shares of NASDAQ:RUSHA opened at $51.47 on Wednesday. The stock has a market cap of $4.01 billion, a P/E ratio of 14.66, a P/E/G ratio of 1.46 and a beta of 0.89. The firm has a fifty day moving average price of $55.33 and a 200 day moving average price of $52.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.39 and a quick ratio of 0.32. Rush Enterprises, Inc. has a 1-year low of $47.06 and a 1-year high of $65.43.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Thursday, May 20th. The company reported $0.79 earnings per share for the quarter. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.29%. The firm had revenue of $1.23 billion during the quarter. Sell-side analysts predict that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, August 12th were paid a $0.19 dividend. This is a boost from Rush Enterprises’s previous quarterly dividend of $0.18. The ex-dividend date was Tuesday, August 12th. This represents a $0.76 annualized dividend and a dividend yield of 1.5%. Rush Enterprises’s dividend payout ratio (DPR) is 21.65%.

Insider Transactions at Rush Enterprises

In other news, SVP Michael L. Goldstone sold 4,500 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $57.25, for a total value of $257,625.00. Following the completion of the sale, the senior vice president owned 12,510 shares in the company, valued at approximately $716,197.50. This trade represents a 26.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jason Wilder sold 4,980 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $55.55, for a total transaction of $276,639.00. Following the completion of the sale, the chief operating officer owned 79,692 shares of the company’s stock, valued at $4,426,890.60. This trade represents a 5.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,480 shares of company stock worth $862,104. Company insiders own 12.28% of the company’s stock.

Wall Street Analysts Forecast Growth

RUSHA has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rush Enterprises in a research report on Wednesday, October 8th. Stephens reaffirmed an “overweight” rating on shares of Rush Enterprises in a research report on Monday, August 4th. Finally, Wall Street Zen downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $61.00.

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.