Castleark Management LLC Invests $4.72 Million in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Castleark Management LLC purchased a new position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 86,220 shares of the company's stock, valued at approximately $4,724,000. Castleark Management LLC owned 0.11% of Rush Enterprises at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RUSHA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Rush Enterprises by 15.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,554 shares of the company's stock valued at $7,646,000 after acquiring an additional 19,148 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of Rush Enterprises in the fourth quarter valued at approximately $210,000. Point72 Asset Management L.P. purchased a new position in shares of Rush Enterprises during the 4th quarter worth approximately $581,000. ProShare Advisors LLC increased its stake in shares of Rush Enterprises by 44.5% during the 4th quarter. ProShare Advisors LLC now owns 18,365 shares of the company's stock worth $1,006,000 after purchasing an additional 5,652 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Rush Enterprises by 116.5% during the 4th quarter. Millennium Management LLC now owns 299,038 shares of the company's stock worth $16,384,000 after purchasing an additional 160,922 shares during the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

Rush Enterprises Trading Down 3.3%

Rush Enterprises stock opened at $49.87 on Thursday. The stock has a 50-day moving average price of $51.87 and a 200 day moving average price of $56.38. Rush Enterprises, Inc. has a 52 week low of $40.99 and a 52 week high of $65.43. The stock has a market cap of $3.88 billion, a PE ratio of 13.37, a P/E/G ratio of 1.04 and a beta of 0.94. The company has a current ratio of 1.45, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, topping 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 net margin of 3.90% and a return on equity of 14.76%. Equities research analysts predict that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be issued a $0.18 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.72 annualized dividend and a yield of 1.44%. Rush Enterprises's dividend payout ratio (DPR) is presently 20.11%.

Insiders Place Their Bets

In related news, SVP Jody Pollard sold 11,250 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $56.43, for a total value of $634,837.50. Following the sale, the senior vice president now directly owns 3,117 shares of the company's stock, valued at approximately $175,892.31. This trade represents a 78.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael L. Goldstone sold 4,500 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $52.10, for a total value of $234,450.00. Following the sale, the senior vice president now directly owns 12,510 shares of the company's stock, 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 have sold a total of 16,981 shares of company stock valued at $938,472 in the last quarter. 12.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Stephens lowered their target price on Rush Enterprises from $63.00 to $61.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.