Point72 Asset Management L.P. Makes New $581,000 Investment in Rush Enterprises, Inc. (NASDAQ:RUSHA)

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

Several other large investors have also bought and sold shares of RUSHA. Smartleaf Asset Management LLC grew its position in shares of Rush Enterprises by 475.0% during the 4th 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 period. Tower Research Capital LLC TRC raised its holdings in Rush Enterprises by 121.5% in the fourth 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 during the period. PNC Financial Services Group Inc. grew its holdings in shares of 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 buying an additional 596 shares during the period. Sterling Capital Management LLC lifted its holdings in Rush Enterprises by 833.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,961 shares of the company's stock worth $107,000 after acquiring an additional 1,751 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in Rush Enterprises during the fourth quarter worth about $179,000. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling at Rush Enterprises

In other news, COO Jason Wilder sold 748 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $56.08, for a total transaction of $41,947.84. Following the completion of the transaction, the chief operating officer now directly owns 84,672 shares in the company, valued at $4,748,405.76. This represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael L. Goldstone sold 4,500 shares of Rush Enterprises 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 completion of the sale, the senior vice president now directly owns 12,510 shares in the company, valued at approximately $651,771. This represents a 26.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,731 shares of company stock worth $303,634. Corporate insiders own 12.28% of the company's stock.

Rush Enterprises Stock Down 1.1%

RUSHA traded down $0.56 during trading on Wednesday, reaching $49.52. The company had a trading volume of 32,239 shares, compared to its average volume of 382,249. The company has a market cap of $3.85 billion, a P/E ratio of 13.29, a PEG ratio of 1.04 and a beta of 0.94. Rush Enterprises, Inc. has a 12 month low of $40.99 and a 12 month high of $65.43. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.45 and a quick ratio of 0.28. The business's fifty day moving average price is $51.51 and its 200 day moving average price is $56.01.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.01. The firm had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.86 billion. Rush Enterprises had a return on equity of 14.76% and a net margin of 3.90%. Equities analysts anticipate that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be given a $0.18 dividend. 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 is presently 20.11%.

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.