Insider Selling: Rush Enterprises (NASDAQ:RUSHA) SVP Sells $170,730.00 in Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) SVP Michael Goldstone sold 2,100 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $81.30, for a total value of $170,730.00. Following the completion of the sale, the senior vice president owned 12,590 shares in the company, valued at $1,023,567. This represents a 14.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Rush Enterprises Stock Performance

Shares of NASDAQ RUSHA opened at $81.80 on Thursday. The company has a current ratio of 1.45, a quick ratio of 0.38 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $6.36 billion, a P/E ratio of 24.64, a P/E/G ratio of 1.83 and a beta of 0.87. Rush Enterprises, Inc. has a 12 month low of $45.67 and a 12 month high of $83.61. The stock has a 50 day moving average of $73.26 and a 200-day moving average of $70.43.

Rush Enterprises shares are scheduled to split on Tuesday, August 11th. The 3-2 split was recently announced. The newly created shares will be distributed to shareholders after the market closes on Monday, August 10th.

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

Rush Enterprises Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Wednesday, September 9th will be paid 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 dividend payout ratio (DPR) is currently 22.89%.

Wall Street Analyst Weigh In

Several research firms have weighed in on RUSHA. Wolfe Research initiated coverage on shares of Rush Enterprises in a report on Monday, April 27th. They issued an “outperform” rating and a $88.00 price target on the stock. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Weiss Ratings raised Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Stephens boosted their price target on Rush Enterprises from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Finally, Wall Street Zen lowered Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Rush Enterprises has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its position in Rush Enterprises by 33.6% during the first quarter. Royal Bank of Canada now owns 10,786 shares of the company’s stock worth $575,000 after purchasing an additional 2,715 shares during the period. AQR Capital Management LLC increased its holdings in Rush Enterprises by 8.0% in the 1st quarter. AQR Capital Management LLC now owns 24,509 shares of the company’s stock valued at $1,309,000 after buying an additional 1,806 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Rush Enterprises by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,225 shares of the company’s stock valued at $1,935,000 after buying an additional 1,592 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Rush Enterprises by 18.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 390,387 shares of the company’s stock worth $20,851,000 after acquiring an additional 60,615 shares during the period. Finally, Caxton Associates LLP bought a new stake in shares of Rush Enterprises during the 1st quarter worth approximately $221,000. Institutional investors own 84.43% of the company’s stock.

About Rush Enterprises

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.