Amundi Sells 5,845 Shares of Rush Enterprises, Inc. $RUSHA

Key Points

• Amundi decreased its stake in Rush Enterprises, Inc. by 18.6%, holding 25,592 shares worth approximately $1.32 million after selling 5,845 shares in the first quarter.
• Several institutional investors, including PDT Partners LLC and Royal Bank of Canada, significantly increased their positions in Rush Enterprises during the same period, indicating strong interest in the company's stock.
• Rush Enterprises recently reported better-than-expected earnings, with $0.90 earnings per share for the quarter, exceeding analysts' consensus estimates of $0.80.

Amundi reduced its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 18.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,592 shares of the company's stock after selling 5,845 shares during the period. Amundi's holdings in Rush Enterprises were worth $1,324,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State of Wyoming grew its stake in shares of Rush Enterprises by 5.0% in the first quarter. State of Wyoming now owns 4,511 shares of the company's stock valued at $241,000 after acquiring an additional 213 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Rush Enterprises by 82.2% during the first quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company's stock worth $26,000 after buying an additional 217 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Rush Enterprises by 26.7% during the first quarter. Smartleaf Asset Management LLC now owns 1,078 shares of the company's stock worth $58,000 after buying an additional 227 shares in the last quarter. GAMMA Investing LLC grew its stake in Rush Enterprises by 29.4% during the first quarter. GAMMA Investing LLC now owns 1,267 shares of the company's stock worth $68,000 after buying an additional 288 shares in the last quarter. Finally, Wambolt & Associates LLC grew its stake in Rush Enterprises by 1.5% during the first quarter. Wambolt & Associates LLC now owns 22,067 shares of the company's stock worth $1,223,000 after buying an additional 317 shares in the last quarter. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on RUSHA. Stephens reiterated an "overweight" rating on shares of Rush Enterprises in a research note on Monday, August 4th. Wall Street Zen downgraded shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $61.00.

Rush Enterprises Trading Up 2.4%

NASDAQ RUSHA traded up $1.35 during trading hours on Thursday, reaching $57.13. The company's stock had a trading volume of 316,776 shares, compared to its average volume of 250,477. The firm has a fifty day simple moving average of $55.76 and a 200-day simple moving average of $53.19. The stock has a market cap of $4.45 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.57 and a beta of 0.88. Rush Enterprises, Inc. has a 52 week low of $47.06 and a 52 week high of $65.43. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.39 and a quick ratio of 0.32.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.10. The business had revenue of $1.93 billion during 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%. Equities analysts forecast 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 was paid on Friday, September 12th. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.3%. The ex-dividend date was 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 21.65%.

Insiders Place Their Bets

In other Rush Enterprises news, 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 transaction, the director owned 15,771 shares in the company, valued at approximately $861,727.44. This trade represents a 27.56% 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, COO Jason Wilder sold 4,980 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $55.55, for a total transaction of $276,639.00. Following the transaction, the chief operating officer owned 79,692 shares of the company's stock, valued at approximately $4,426,890.60. The trade was a 5.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,480 shares of company stock worth $862,104. 12.28% of the stock is currently owned by insiders.

Rush Enterprises Company 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.