Oliver Luxxe Assets LLC Purchases 9,612 Shares of Rush Enterprises, Inc. $RUSHA

Key Points

• Oliver Luxxe Assets LLC increased its position in Rush Enterprises by 33.6%, owning 38,215 shares worth approximately $2 million after purchasing an additional 9,612 shares in Q1.
• Rush Enterprises recently raised its quarterly dividend to $0.19, reflecting a 1.3% dividend yield and an increase from the previous quarterly dividend of $0.18.
• The company reported earnings of $0.90 per share for the last quarter, exceeding estimates, and anticipates a consensus EPS of 3.91 for the current fiscal year.

Oliver Luxxe Assets LLC lifted its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 33.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,215 shares of the company's stock after purchasing an additional 9,612 shares during the quarter. Oliver Luxxe Assets LLC's holdings in Rush Enterprises were worth $2,041,000 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 holdings in Rush Enterprises by 82.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company's stock valued at $26,000 after purchasing an additional 217 shares during the period. AlphaQuest LLC bought a new position in shares of Rush Enterprises during the 1st quarter worth about $30,000. Smartleaf Asset Management LLC lifted its holdings in shares of Rush Enterprises by 26.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,078 shares of the company's stock worth $58,000 after acquiring an additional 227 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Rush Enterprises by 121.5% during the 4th 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. Finally, GAMMA Investing LLC increased its position in shares of Rush Enterprises by 29.4% during the 1st 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. 84.43% of the stock is owned by institutional investors.

Rush Enterprises Stock Performance

Shares of Rush Enterprises stock traded down $0.41 during trading on Friday, hitting $57.49. 57,775 shares of the company's stock traded hands, compared to its average volume of 414,867. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.39 and a quick ratio of 0.32. Rush Enterprises, Inc. has a 1 year low of $46.30 and a 1 year high of $65.43. The stock has a market capitalization of $4.47 billion, a P/E ratio of 16.39, a PEG ratio of 1.66 and a beta of 0.85. The business has a 50-day simple moving average of $54.43 and a 200-day simple moving average of $53.34.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. The company 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%. As a group, analysts forecast that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Increases Dividend

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

Insider Transactions at Rush Enterprises

In other news, SVP Michael L. Goldstone sold 4,500 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $57.25, for a total value of $257,625.00. Following the transaction, the senior vice president owned 12,510 shares of the company's stock, valued at $716,197.50. This trade represents a 26.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jason Wilder sold 4,980 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $55.55, for a total value of $276,639.00. Following the completion of the transaction, the chief operating officer directly owned 79,692 shares in the company, valued at $4,426,890.60. This trade represents a 5.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,480 shares of company stock valued at $862,104 over the last quarter. 12.28% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RUSHA has been the subject of several research reports. Stephens restated an "overweight" rating on shares of Rush Enterprises in a research report on Monday, August 4th. Wall Street Zen lowered shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $61.00.

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.