Point72 Asset Management L.P. Purchases New Shares in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Point72 Asset Management L.P. acquired a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,600 shares of the company's stock, valued at approximately $581,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RUSHA. Smartleaf Asset Management LLC increased its stake in shares of Rush Enterprises by 475.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 851 shares of the company's stock valued at $46,000 after acquiring an additional 703 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in 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. PNC Financial Services Group Inc. increased its stake in Rush Enterprises by 71.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the company's stock worth $79,000 after purchasing an additional 596 shares in the last quarter. Sterling Capital Management LLC increased its stake in Rush Enterprises by 833.8% during 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 in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Rush Enterprises during the 4th quarter worth approximately $179,000. 84.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Stephens lowered their target price 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.

Rush Enterprises Trading Down 0.6%

NASDAQ:RUSHA opened at $49.59 on Friday. Rush Enterprises, Inc. has a twelve month low of $40.99 and a twelve month high of $65.43. The company has a quick ratio of 0.28, a current ratio of 1.45 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average price of $51.78 and a two-hundred day moving average price of $56.32. The company has a market cap of $3.86 billion, a P/E ratio of 13.29, a price-to-earnings-growth ratio of 1.04 and a beta of 0.94.

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 for the quarter, topping analysts' consensus estimates of $0.72 by $0.01. Rush Enterprises had a return on equity of 14.76% and a net margin of 3.90%. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.86 billion. As a group, analysts expect that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Monday, May 12th. Rush Enterprises's dividend payout ratio (DPR) is currently 20.11%.

Insiders Place Their Bets

In other Rush Enterprises news, SVP Michael L. Goldstone sold 4,500 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $52.10, for a total transaction of $234,450.00. Following the completion of the transaction, the senior vice president now owns 12,510 shares of the company's stock, valued at $651,771. This represents a 26.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jason Wilder sold 748 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $56.08, for a total value of $41,947.84. Following the completion of the sale, the chief operating officer now directly owns 84,672 shares of the company's stock, valued at approximately $4,748,405.76. The trade was a 0.88% decrease in their position. The disclosure for this sale can be found here. Insiders 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 insiders.

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.

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