Rush Enterprises, Inc. (NASDAQ:RUSHA) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC lifted its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 44.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,365 shares of the company's stock after purchasing an additional 5,652 shares during the period. ProShare Advisors LLC's holdings in Rush Enterprises were worth $1,006,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RUSHA. Smartleaf Asset Management LLC raised its stake in Rush Enterprises by 475.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 851 shares of the company's stock valued at $46,000 after buying an additional 703 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of 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 purchasing an additional 616 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Rush Enterprises by 71.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the company's stock valued at $79,000 after acquiring an additional 596 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Rush Enterprises by 833.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,961 shares of the company's stock valued at $107,000 after buying an additional 1,751 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Rush Enterprises in the fourth quarter valued at about $179,000. 84.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Michael L. Goldstone sold 4,500 shares of the firm's stock in a transaction that occurred on 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 now directly owns 12,510 shares of the company's stock, valued at approximately $651,771. This trade represents a 26.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jason Wilder sold 748 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $56.08, for a total transaction of $41,947.84. Following the transaction, the chief operating officer now directly owns 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 sold a total of 5,731 shares of company stock valued at $303,634 over the last 90 days. Insiders own 12.28% of the company's stock.

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA traded down $0.56 on Wednesday, hitting $49.52. The company's stock had a trading volume of 32,239 shares, compared to its average volume of 382,249. The stock has a 50 day moving average of $51.51 and a 200-day moving average of $56.01. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth 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.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $1.86 billion. As a group, research analysts predict that Rush Enterprises, Inc. will post 3.91 EPS for the current 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 paid a dividend of $0.18 per share. The ex-dividend date is Monday, May 12th. This represents a $0.72 annualized dividend and a dividend yield of 1.45%. Rush Enterprises's dividend payout ratio is currently 20.11%.

Analyst Ratings Changes

Separately, Stephens decreased their target price 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.

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.