12th Street Asset Management Company LLC Has $14.36 Million Stake in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Key Points

• 12th Street Asset Management Company LLC reduced its holdings in Rush Enterprises by 34.8%, selling 143,723 shares and now owning 268,835 shares, which represents 2.4% of its portfolio.
• Analysts downgraded Rush Enterprises from a "buy" rating to a "hold," with a price target decrease from $63.00 to $61.00.
• Rush Enterprises reported a net income of $0.90 EPS for the last quarter, which surpasses the consensus estimate of $0.80 EPS, with revenue of $1.93 billion.

12th Street Asset Management Company LLC trimmed its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 34.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 268,835 shares of the company's stock after selling 143,723 shares during the period. Rush Enterprises makes up approximately 2.4% of 12th Street Asset Management Company LLC's investment portfolio, making the stock its 16th largest position. 12th Street Asset Management Company LLC owned about 0.34% of Rush Enterprises worth $14,358,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RUSHA. Tower Research Capital LLC TRC lifted its holdings in shares of Rush Enterprises by 121.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the company's stock worth $62,000 after acquiring an additional 616 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Rush Enterprises by 29.4% in the first quarter. GAMMA Investing LLC now owns 1,267 shares of the company's stock worth $68,000 after acquiring an additional 288 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Rush Enterprises by 833.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,961 shares of the company's stock worth $107,000 after acquiring an additional 1,751 shares during the last quarter. Two Sigma Investments LP bought a new position in Rush Enterprises in the 4th quarter valued at approximately $210,000. Finally, Cerity Partners LLC acquired a new stake in Rush Enterprises during the 1st quarter worth approximately $207,000. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Stephens decreased their price target on shares of Rush Enterprises from $63.00 to $61.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Wall Street Zen cut shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th.

Insider Activity at Rush Enterprises

In other Rush Enterprises news, COO Jason Wilder sold 748 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $56.08, for a total transaction of $41,947.84. Following the completion of the transaction, the chief operating officer owned 84,672 shares in the company, valued at approximately $4,748,405.76. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael L. Goldstone sold 4,500 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $52.10, for a total transaction of $234,450.00. Following the transaction, the senior vice president owned 12,510 shares of the company's stock, valued at approximately $651,771. The trade was a 26.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,731 shares of company stock valued at $303,634. Company insiders own 12.28% of the company's stock.

Rush Enterprises Trading Down 1.1%

NASDAQ RUSHA traded down $0.59 on Friday, hitting $53.55. The company's stock had a trading volume of 680,442 shares, compared to its average volume of 396,214. The company has a quick ratio of 0.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.23. Rush Enterprises, Inc. has a 1-year low of $46.30 and a 1-year high of $65.43. The company's 50-day moving average is $51.85 and its 200 day moving average is $53.81. The firm has a market cap of $4.17 billion, a PE ratio of 15.26, a PEG ratio of 1.51 and a beta of 0.85.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.29%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. As a group, analysts predict that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Tuesday, August 12th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, August 12th. This is a positive change from Rush Enterprises's previous quarterly dividend of $0.18. Rush Enterprises's dividend payout ratio (DPR) is 20.51%.

Rush Enterprises 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.