New South Capital Management Inc. Sells 54,195 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

New South Capital Management Inc. trimmed its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 436,549 shares of the company's stock after selling 54,195 shares during the quarter. Rush Enterprises makes up about 1.1% of New South Capital Management Inc.'s investment portfolio, making the stock its 29th largest holding. New South Capital Management Inc. owned approximately 0.55% of Rush Enterprises worth $23,316,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in shares of Rush Enterprises by 475.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 851 shares of the company's stock worth $46,000 after buying an additional 703 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Rush Enterprises by 121.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the company's stock worth $62,000 after acquiring an additional 616 shares during the period. GAMMA Investing LLC raised 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 purchasing an additional 288 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Rush Enterprises by 71.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the company's stock valued at $79,000 after purchasing an additional 596 shares during the period. Finally, Sterling Capital Management LLC grew its position in Rush Enterprises by 833.8% in the 4th 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 during the last quarter. Institutional investors own 84.43% of the company's stock.

Insider Buying and Selling

In other news, SVP Michael L. Goldstone sold 4,500 shares of the company'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 owned 12,510 shares of the company's stock, valued at approximately $651,771. This represents a 26.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jason Wilder sold 748 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $56.08, for a total value of $41,947.84. Following the transaction, the chief operating officer directly owned 84,672 shares in the company, valued at approximately $4,748,405.76. This represents a 0.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,731 shares of company stock worth $303,634 over the last ninety days. Company insiders own 12.28% of the company's stock.

Rush Enterprises Stock Performance

Shares of NASDAQ RUSHA traded down $0.96 during trading hours on Friday, reaching $54.54. The stock had a trading volume of 321,240 shares, compared to its average volume of 401,279. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 1.54 and a beta of 0.88. Rush Enterprises, Inc. has a twelve month low of $41.10 and a twelve month high of $65.43. The business's fifty day moving average is $50.62 and its two-hundred day moving average is $54.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.44 and a quick ratio of 0.32.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.01. Rush Enterprises had a net margin of 3.76% and a return on equity of 13.82%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.86 billion. As a group, research analysts expect that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Dividend Announcement

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

Analyst Ratings Changes

RUSHA has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Rush Enterprises from a "hold" rating to a "buy" rating in a research report on Saturday. Stephens cut their price target on Rush Enterprises from $63.00 to $61.00 and set an "overweight" rating for the company in a report on Friday, May 2nd.

Rush Enterprises 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.