Rhumbline Advisers Sells 7,050 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

Rhumbline Advisers lessened its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 177,135 shares of the company's stock after selling 7,050 shares during the period. Rhumbline Advisers owned about 0.22% of Rush Enterprises worth $9,461,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of RUSHA. GAMMA Investing LLC lifted its stake in Rush Enterprises by 6,812.2% in the first quarter. GAMMA Investing LLC now owns 67,670 shares of the company's stock valued at $3,614,000 after acquiring an additional 66,691 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Rush Enterprises in the 4th quarter worth approximately $10,628,000. Jefferies Financial Group Inc. acquired a new stake in shares of Rush Enterprises during the fourth quarter worth approximately $241,000. Castleark Management LLC bought a new position in shares of Rush Enterprises in the fourth quarter valued at about $4,724,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Rush Enterprises by 15.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,554 shares of the company's stock worth $7,646,000 after buying an additional 19,148 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company's stock.

Rush Enterprises Stock Down 0.4%

Shares of NASDAQ:RUSHA traded down $0.23 during mid-day trading on Thursday, reaching $51.04. 107,280 shares of the stock were exchanged, compared to its average volume of 385,204. The stock's 50 day simple moving average is $50.65 and its 200-day simple moving average is $55.24. The company has a quick ratio of 0.28, a current ratio of 1.45 and a debt-to-equity ratio of 0.23. Rush Enterprises, Inc. has a one year low of $40.99 and a one year high of $65.43. The company has a market cap of $3.97 billion, a P/E ratio of 13.68, a P/E/G ratio of 1.04 and a beta of 0.89.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 earnings per share (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 company had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.86 billion. As a group, equities research analysts predict 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. Shareholders of record on Monday, May 12th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Monday, May 12th. Rush Enterprises's dividend payout ratio is currently 20.11%.

Insider Transactions at Rush Enterprises

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 stock was sold at an average price of $52.10, for a total transaction of $234,450.00. Following the completion of the sale, the senior vice president now owns 12,510 shares of the company's stock, valued at $651,771. This trade represents a 26.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jason Wilder sold 748 shares of the firm's stock in a transaction 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 completion of the sale, the chief operating officer now owns 84,672 shares of the company's stock, valued at $4,748,405.76. The trade was a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,731 shares of company stock valued at $303,634. Corporate insiders own 12.28% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Stephens decreased their price objective 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.

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.