Private Management Group Inc. Sells 17,074 Shares of Rush Enterprises, Inc. $RUSHA

Key Points

• Private Management Group Inc. reduced its stake in Rush Enterprises by 5.4% in the fourth quarter, selling 17,074 shares and ending with 296,648 shares valued at about $16.0 million.
• Rush Enterprises reported quarterly EPS of $0.77, topping analyst estimates of $0.72, though revenue of $1.68 billion came in slightly below expectations.
• The company paid a quarterly dividend of $0.19 per share, while analysts currently have an average Hold rating and an average price target of $83.67.

Private Management Group Inc. trimmed its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 296,648 shares of the company's stock after selling 17,074 shares during the period. Private Management Group Inc. owned about 0.38% of Rush Enterprises worth $16,001,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC grew its holdings in Rush Enterprises by 495.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company's stock valued at $28,000 after purchasing an additional 431 shares during the last quarter. Private Trust Co. NA grew its holdings in Rush Enterprises by 211.4% during the 4th quarter. Private Trust Co. NA now owns 545 shares of the company's stock valued at $29,000 after purchasing an additional 370 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in Rush Enterprises during the 3rd quarter valued at about $34,000. Allworth Financial LP grew its holdings in Rush Enterprises by 5,790.9% during the 3rd quarter. Allworth Financial LP now owns 648 shares of the company's stock valued at $35,000 after purchasing an additional 637 shares during the last quarter. Finally, First Horizon Corp bought a new position in Rush Enterprises during the 4th quarter valued at about $37,000. 84.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Michael Mcroberts sold 8,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total transaction of $577,840.00. Following the completion of the sale, the director owned 16,229 shares of the company's stock, valued at $1,172,220.67. This represents a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 12.68% of the stock is owned by insiders.

Rush Enterprises Price Performance

Shares of RUSHA opened at $69.09 on Friday. The company has a 50 day moving average price of $70.26 and a 200-day moving average price of $65.19. Rush Enterprises, Inc. has a fifty-two week low of $45.67 and a fifty-two week high of $76.99. The stock has a market capitalization of $5.37 billion, a PE ratio of 20.87, a PEG ratio of 1.44 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.05. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. The firm had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.73 billion. Equities analysts predict that Rush Enterprises, Inc. will post 3.79 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 12th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, May 12th. Rush Enterprises's dividend payout ratio is presently 22.96%.

Analysts Set New Price Targets

RUSHA has been the subject of several research reports. UBS Group boosted their price objective on shares of Rush Enterprises from $73.00 to $78.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Wolfe Research initiated coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They issued an "outperform" rating and a $88.00 price objective for the company. Weiss Ratings raised shares of Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, March 25th. Stephens reissued an "overweight" rating and issued a $85.00 price objective on shares of Rush Enterprises in a research report on Tuesday, May 19th. Finally, Wall Street Zen raised shares of Rush Enterprises from a "hold" rating to a "buy" rating in a research report on Saturday, June 6th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Rush Enterprises presently has an average rating of "Hold" and an average price target of $83.67.

About Rush Enterprises

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.

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