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 position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 18.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,592 shares of the company's stock after selling 5,845 shares during the quarter. Amundi's holdings in Rush Enterprises were worth $1,324,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. State of Wyoming boosted its stake in shares of Rush Enterprises by 5.0% in the 1st quarter. State of Wyoming now owns 4,511 shares of the company's stock valued at $241,000 after purchasing an additional 213 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Rush Enterprises by 82.2% during 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. Smartleaf Asset Management LLC lifted its position in shares of Rush Enterprises by 26.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,078 shares of the company's stock valued at $58,000 after acquiring an additional 227 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. Finally, Wambolt & Associates LLC lifted its position in shares of Rush Enterprises by 1.5% during the 1st quarter. Wambolt & Associates LLC now owns 22,067 shares of the company's stock valued at $1,223,000 after acquiring an additional 317 shares during the period. 84.43% of the stock is owned by institutional investors.

Rush Enterprises Stock Up 0.4%

Shares of RUSHA stock traded up $0.20 on Monday, hitting $55.86. The stock had a trading volume of 228,503 shares, compared to its average volume of 252,862. The business has a 50 day moving average of $55.60 and a 200 day moving average of $53.15. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 1.57 and a beta of 0.88. 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, Inc. has a 12-month low of $47.06 and a 12-month 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 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.89 billion. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.29%. As a group, analysts expect that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Tuesday, August 12th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, August 12th. This is an increase from Rush Enterprises's previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 1.4%. Rush Enterprises's dividend payout ratio (DPR) is currently 21.65%.

Wall Street Analyst Weigh In

RUSHA has been the topic of a number of research reports. Stephens reiterated an "overweight" rating on shares of Rush Enterprises in a research report on Monday, August 4th. Wall Street Zen downgraded shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $61.00.

Insider Activity at Rush Enterprises

In other Rush Enterprises news, COO Jason Wilder sold 4,980 shares of the 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 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael L. Goldstone sold 4,500 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $57.25, for a total transaction of $257,625.00. Following the transaction, the senior vice president owned 12,510 shares of the company's stock, valued at $716,197.50. This represents a 26.46% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,480 shares of company stock worth $862,104. 12.28% of the stock is owned by company insiders.

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.