Bryce Point Capital LLC Purchases Shares of 14,360 Rush Enterprises, Inc. (NASDAQ:RUSHA)

Key Points

• Bryce Point Capital LLC has acquired a new stake in Rush Enterprises, purchasing 14,360 shares valued at approximately $785,000 during the first quarter of 2023.
• The stock's market capitalization stands at $4.27 billion, with a recent earnings report showing an EPS of $0.73, beating analyst estimates.
• Rush Enterprises has declared a quarterly dividend of $0.18 per share, representing an annual yield of 1.31% and a payout ratio of 20.11%.

Bryce Point Capital LLC purchased a new stake in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,360 shares of the company's stock, valued at approximately $785,000.

Other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings in Rush Enterprises by 121.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the company's stock worth $62,000 after purchasing an additional 616 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Rush Enterprises by 29.4% in the first quarter. GAMMA Investing LLC now owns 1,267 shares of the company's stock worth $68,000 after purchasing an additional 288 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Rush Enterprises by 833.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,961 shares of the company's stock worth $107,000 after purchasing an additional 1,751 shares in the last quarter. Cerity Partners LLC bought a new stake in Rush Enterprises in the first quarter worth $207,000. Finally, Two Sigma Investments LP bought a new stake in Rush Enterprises in the fourth quarter worth $210,000. Institutional investors own 84.43% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RUSHA shares. Stephens dropped their price objective on shares of Rush Enterprises from $63.00 to $61.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Wall Street Zen lowered shares of Rush Enterprises from a "buy" rating to a "hold" rating in a report on Sunday, July 13th.

Rush Enterprises Stock Performance

RUSHA stock traded up $1.10 during mid-day trading on Thursday, hitting $54.22. The company had a trading volume of 407,720 shares, compared to its average volume of 427,898. The firm has a market cap of $4.22 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 1.54 and a beta of 0.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.32 and a current ratio of 1.44. Rush Enterprises, Inc. has a 12 month low of $46.30 and a 12 month high of $65.43. The stock's fifty day moving average price is $51.66 and its two-hundred day moving average price is $53.85.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.90 earnings per share 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 3.76% and a return on equity of 13.82%. On average, analysts forecast that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Insider Activity

In other Rush Enterprises news, SVP Michael L. Goldstone sold 4,500 shares of the firm's stock in a transaction dated 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 sale, the senior vice president directly owned 12,510 shares in the company, valued at approximately $651,771. This trade represents a 26.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jason Wilder sold 748 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $56.08, for a total transaction of $41,947.84. Following the sale, the chief operating officer owned 84,672 shares of the company's stock, valued at approximately $4,748,405.76. This represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,731 shares of company stock valued at $303,634. Corporate insiders own 12.28% of the company's stock.

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.