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

A number of other large investors have also modified their holdings of the business. Summit Investment Advisors Inc. lifted its position in Rush Enterprises by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,365 shares of the company's stock valued at $349,000 after buying an additional 202 shares during the last quarter. GAMMA Investing LLC lifted its position in Rush Enterprises by 29.4% in the first quarter. GAMMA Investing LLC now owns 1,267 shares of the company's stock valued at $68,000 after buying an additional 288 shares during the last quarter. Wambolt & Associates LLC lifted its position in Rush Enterprises by 1.5% in the first quarter. Wambolt & Associates LLC now owns 22,067 shares of the company's stock valued at $1,223,000 after buying an additional 317 shares during the last quarter. Denali Advisors LLC lifted its position in Rush Enterprises by 0.4% in the first quarter. Denali Advisors LLC now owns 119,929 shares of the company's stock valued at $6,405,000 after buying an additional 464 shares during the last quarter. Finally, Savvy Advisors Inc. lifted its position in Rush Enterprises by 15.0% in the first quarter. Savvy Advisors Inc. now owns 4,529 shares of the company's stock valued at $242,000 after buying an additional 592 shares during the last quarter. Hedge funds and other institutional investors own 84.43% of the company's stock.

Insiders Place Their Bets

In other Rush Enterprises news, COO Jason Wilder sold 4,980 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $55.55, for a total transaction of $276,639.00. Following the sale, the chief operating officer directly owned 79,692 shares in the company, valued at approximately $4,426,890.60. The trade was a 5.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Mcroberts sold 6,000 shares of Rush Enterprises stock in a transaction on Monday, August 4th. The stock was sold at an average price of $54.64, for a total value of $327,840.00. Following the transaction, the director directly owned 15,771 shares of the company's stock, valued at $861,727.44. This trade represents a 27.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,728 shares of company stock worth $646,427. 12.28% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RUSHA has been the topic of a number of recent analyst reports. Stephens reaffirmed an "overweight" rating on shares of Rush Enterprises in a research report on Monday, August 4th. Wall Street Zen cut shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th.

Rush Enterprises Stock Performance

Shares of RUSHA traded down $0.98 during mid-day trading on Friday, reaching $56.37. 264,431 shares of the company's stock were exchanged, compared to its average volume of 407,769. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.39 and a quick ratio of 0.32. The stock has a market capitalization of $4.39 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 1.59 and a beta of 0.85. The business's fifty day simple moving average is $53.14 and its 200-day simple moving average is $53.48. Rush Enterprises, Inc. has a 52-week low of $46.30 and a 52-week high of $65.43.

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

Rush Enterprises Increases Dividend

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

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.