Rush Enterprises, Inc. (NASDAQ:RUSHA) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lowered its position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 21.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,490 shares of the company's stock after selling 24,396 shares during the period. Allianz Asset Management GmbH owned about 0.11% of Rush Enterprises worth $4,673,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in RUSHA. Tower Research Capital LLC TRC lifted its position in shares of Rush Enterprises by 121.5% during 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 lifted its position in shares of Rush Enterprises by 29.4% during 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 lifted its position in shares of Rush Enterprises by 833.8% during 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. Cerity Partners LLC acquired a new stake in shares of Rush Enterprises during the 1st quarter valued at approximately $207,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Rush Enterprises during the 4th quarter valued at approximately $210,000. Institutional investors and hedge funds own 84.43% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RUSHA shares. Wall Street Zen downgraded shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Stephens reduced 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.

Insider Activity at Rush Enterprises

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

Rush Enterprises Price Performance

Shares of RUSHA traded up $0.11 during mid-day trading on Friday, reaching $54.25. 174,069 shares of the company's stock were exchanged, compared to its average volume of 428,036. The company has a quick ratio of 0.32, a current ratio of 1.44 and a debt-to-equity ratio of 0.22. The company has a 50-day simple moving average of $51.75 and a two-hundred day simple moving average of $53.84. Rush Enterprises, Inc. has a 52-week low of $46.30 and a 52-week high of $65.43. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.50 and a beta of 0.88.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.80 by $0.10. The firm had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.89 billion. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.33%. On average, sell-side analysts predict that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Tuesday, August 12th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 12th. This is an increase from Rush Enterprises's previous quarterly dividend of $0.18. Rush Enterprises's dividend payout ratio is presently 20.11%.

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.