Bryce Point Capital LLC Takes $785,000 Position in 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 bought a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,360 shares of the company's stock, valued at approximately $785,000.

Several other large investors have also added to or reduced their stakes in RUSHA. Tower Research Capital LLC TRC grew its stake 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 valued at $62,000 after acquiring an additional 616 shares during the period. GAMMA Investing LLC grew its stake in Rush Enterprises by 29.4% in the first 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 grew its stake in Rush Enterprises by 833.8% in the fourth 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 Rush Enterprises in the first quarter valued at approximately $207,000. Finally, Two Sigma Investments LP acquired a new stake in Rush Enterprises in the fourth quarter valued at approximately $210,000. Institutional investors and hedge funds own 84.43% of the company's stock.

Wall Street Analyst Weigh In

RUSHA has been the subject of a number of research reports. Stephens reduced their price objective on Rush Enterprises from $63.00 to $61.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Wall Street Zen cut Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th.

Insiders Place Their Bets

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

Rush Enterprises Stock Down 0.1%

Shares of NASDAQ:RUSHA traded down $0.07 during mid-day trading on Monday, hitting $54.75. 286,136 shares of the company traded hands, compared to its average volume of 412,553. The stock has a market cap of $4.26 billion, a P/E ratio of 15.29, a P/E/G ratio of 1.55 and a beta of 0.88. The company has a current ratio of 1.44, a quick ratio of 0.32 and a debt-to-equity ratio of 0.22. Rush Enterprises, Inc. has a 12-month low of $46.30 and a 12-month high of $65.43. The stock has a 50-day moving average price of $51.54 and a two-hundred day moving average price of $53.85.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. The company had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.86 billion. Rush Enterprises had a return on equity of 13.82% and a net margin of 3.76%. On average, equities research analysts forecast that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.72 dividend on an annualized basis and a yield of 1.32%. Rush Enterprises's dividend payout ratio (DPR) is currently 20.11%.

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.