Algert Global LLC Has $10.95 Million Stock Position in Rush Enterprises, Inc. $RUSHA

Key Points

• Algert Global LLC increased its stake in Rush Enterprises by 45.6%, acquiring an additional 64,172 shares for a total ownership of approximately 0.26%, valued at $10.95 million.
• Insider transactions include COO Jason Wilder selling 4,980 shares and Director Michael Mcroberts selling 6,000 shares, reflecting decreases in their positions of 5.88% and 27.56%, respectively.
• Rush Enterprises has declared a quarterly dividend of $0.19, up from $0.18, to be paid on September 12th, with an annualized yield of 1.3%.

Algert Global LLC increased its position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 45.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 204,943 shares of the company's stock after purchasing an additional 64,172 shares during the quarter. Algert Global LLC owned approximately 0.26% of Rush Enterprises worth $10,946,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of RUSHA. Caitong International Asset Management Co. Ltd raised its holdings in Rush Enterprises by 82.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company's stock valued at $26,000 after acquiring an additional 217 shares during the period. Tower Research Capital LLC TRC raised its holdings in Rush Enterprises by 121.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the company's stock valued at $62,000 after acquiring an additional 616 shares during the period. GAMMA Investing LLC raised its holdings in Rush Enterprises by 29.4% in the 1st quarter. GAMMA Investing LLC now owns 1,267 shares of the company's stock valued at $68,000 after acquiring an additional 288 shares during the period. Sterling Capital Management LLC raised 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 acquiring an additional 1,751 shares during the period. Finally, Cerity Partners LLC bought a new position in Rush Enterprises in the 1st quarter valued at about $207,000. 84.43% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA traded up $2.6160 during trading hours on Friday, hitting $58.8560. 152,335 shares of the stock were exchanged, compared to its average volume of 419,933. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 1.39. The company has a market cap of $4.58 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 1.59 and a beta of 0.85. The company's fifty day simple moving average is $53.55 and its two-hundred day simple moving average is $53.42. Rush Enterprises, Inc. has a 1-year low of $46.30 and a 1-year high of $65.43.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted 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. 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, sell-side analysts predict that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RUSHA shares. Wall Street Zen cut shares of Rush Enterprises from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Stephens reaffirmed an "overweight" rating on shares of Rush Enterprises in a report on Monday, August 4th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Rush Enterprises currently has an average rating of "Buy" and a consensus target price of $61.00.

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.