Aigen Investment Management LP Invests $317,000 in Rush Enterprises, Inc. $RUSHA

Key Points

• Aigen Investment Management LP acquired 5,933 shares of Rush Enterprises, valued at approximately $317,000, during the first quarter.
• Rush Enterprises announced a quarterly dividend increase to $0.19, up from the previous $0.18, reflecting a 1.3% yield on an annualized basis.
• Several institutional investors, including Tower Research Capital LLC and GAMMA Investing LLC, have significantly boosted their stakes in Rush Enterprises, indicating growing institutional interest.

Aigen Investment Management LP bought a new stake in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,933 shares of the company's stock, valued at approximately $317,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. LPL Financial LLC grew its position in Rush Enterprises by 9.7% in the 4th quarter. LPL Financial LLC now owns 18,370 shares of the company's stock valued at $1,006,000 after buying an additional 1,626 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Rush Enterprises by 25.3% during the fourth quarter. Wells Fargo & Company MN now owns 37,112 shares of the company's stock worth $2,033,000 after acquiring an additional 7,483 shares during the period. Bank of Montreal Can raised its holdings in Rush Enterprises by 9.1% during the fourth quarter. Bank of Montreal Can now owns 10,688 shares of the company's stock worth $586,000 after purchasing an additional 895 shares in the last quarter. Legal & General Group Plc lifted its position in Rush Enterprises by 0.6% in the fourth quarter. Legal & General Group Plc now owns 178,020 shares of the company's stock valued at $9,754,000 after purchasing an additional 1,123 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in Rush Enterprises by 833.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,961 shares of the company's stock valued at $107,000 after purchasing an additional 1,751 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company's stock.

Rush Enterprises Stock Up 0.1%

RUSHA stock traded up $0.07 during midday trading on Monday, hitting $56.44. 61,217 shares of the company's stock were exchanged, compared to its average volume of 422,471. The firm has a 50 day moving average price of $53.14 and a 200-day moving average price of $53.43. Rush Enterprises, Inc. has a 12-month low of $46.30 and a 12-month high of $65.43. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 1.59 and a beta of 0.85. The company has a current ratio of 1.39, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23.

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

Rush Enterprises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, August 12th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.76 annualized dividend and a dividend yield of 1.3%. This is an increase from Rush Enterprises's previous quarterly dividend of $0.18. Rush Enterprises's dividend payout ratio is currently 21.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Wall Street Zen cut shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Stephens restated an "overweight" rating on shares of Rush Enterprises in a report on Monday, August 4th.

Insider Activity at Rush Enterprises

In other Rush Enterprises news, Director Michael Mcroberts sold 6,000 shares of Rush Enterprises stock in a transaction on Monday, August 4th. The shares were sold at an average price of $54.64, for a total value of $327,840.00. Following the completion of the transaction, the director owned 15,771 shares of the company's stock, valued at $861,727.44. The trade was a 27.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Jason Wilder sold 4,980 shares of Rush Enterprises stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $55.55, for a total transaction of $276,639.00. Following the completion of the transaction, the chief operating officer directly owned 79,692 shares of the company's stock, valued at $4,426,890.60. This trade represents a 5.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.28% of the company's stock.

About Rush Enterprises

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.