Inspire Investing LLC Sells 15,522 Shares of Rush Enterprises, Inc. $RUSHA

Key Points

• Inspire Investing LLC significantly reduced its stake in Rush Enterprises, decreasing its holdings by 70.7% to 6,438 shares after selling 15,522 shares in the first quarter.
• Rush Enterprises recently increased its quarterly dividend from $0.18 to $0.19, reflecting a positive change and an annual yield of 1.4%.
• Despite analyst downgrades, Rush Enterprises maintains a consensus Buy rating with a price target of $61.00 according to MarketBeat data.

Inspire Investing LLC reduced its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 70.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,438 shares of the company's stock after selling 15,522 shares during the period. Inspire Investing LLC's holdings in Rush Enterprises were worth $344,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its stake 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 buying an additional 217 shares during the last quarter. AlphaQuest LLC bought a new position in shares of Rush Enterprises during the 1st quarter valued at about $30,000. Smartleaf Asset Management LLC increased its stake in Rush Enterprises by 26.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,078 shares of the company's stock worth $58,000 after purchasing an additional 227 shares in the last quarter. GAMMA Investing LLC grew its stake in 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 in the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of Rush Enterprises in the 1st quarter valued at approximately $207,000. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Michael L. Goldstone sold 4,500 shares of Rush Enterprises stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $57.25, for a total transaction of $257,625.00. Following the completion of the transaction, the senior vice president directly owned 12,510 shares in the company, valued at approximately $716,197.50. This trade represents a 26.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Mcroberts sold 6,000 shares of Rush Enterprises 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 transaction, the director owned 15,771 shares of the company's stock, valued at $861,727.44. The trade was a 27.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,480 shares of company stock worth $862,104. Insiders own 12.28% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on RUSHA shares. Stephens restated an "overweight" rating on shares of Rush Enterprises in a research note on Monday, August 4th. Wall Street Zen lowered Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Rush Enterprises presently has an average rating of "Buy" and an average target price of $61.00.

Rush Enterprises Price Performance

NASDAQ RUSHA traded down $0.11 during trading hours on Friday, reaching $57.02. 1,532,461 shares of the stock traded hands, compared to its average volume of 253,453. The stock has a 50 day simple moving average of $55.83 and a two-hundred day simple moving average of $53.20. Rush Enterprises, Inc. has a 1 year low of $47.06 and a 1 year 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. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced 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 firm had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.89 billion. Rush Enterprises had a return on equity of 13.29% and a net margin of 3.73%. On average, analysts predict that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, August 12th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, August 12th. This is a positive change from Rush Enterprises's previous quarterly dividend of $0.18. Rush Enterprises's payout ratio is presently 21.65%.

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.