Global Alpha Capital Management Ltd. Boosts Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Key Points

• Global Alpha Capital Management Ltd. increased its stake in Rush Enterprises by 2.3% in Q1 2023, making the firm’s investment in Rush approximately 3.1% of its portfolio.
• Rush Enterprises reported a net margin of 3.73% and earnings per share of $0.90 for the last quarter, exceeding expectations.
• The company announced a quarterly dividend increase to $0.19 per share, boosting the annualized yield to 1.4%.

Global Alpha Capital Management Ltd. raised its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 807,290 shares of the company's stock after purchasing an additional 18,100 shares during the quarter. Rush Enterprises accounts for 3.1% of Global Alpha Capital Management Ltd.'s portfolio, making the stock its 9th largest position. Global Alpha Capital Management Ltd. owned 1.02% of Rush Enterprises worth $43,117,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Summit Investment Advisors Inc. lifted its position in shares of Rush Enterprises by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,365 shares of the company's stock worth $349,000 after purchasing an additional 202 shares during the last quarter. GAMMA Investing LLC increased its stake in Rush Enterprises by 29.4% during the first quarter. GAMMA Investing LLC now owns 1,267 shares of the company's stock valued at $68,000 after acquiring an additional 288 shares during the period. Wambolt & Associates LLC grew its stake in shares of Rush Enterprises by 1.5% in the 1st quarter. Wambolt & Associates LLC now owns 22,067 shares of the company's stock valued at $1,223,000 after purchasing an additional 317 shares during the period. Denali Advisors LLC grew its stake in shares of Rush Enterprises by 0.4% in the 1st quarter. Denali Advisors LLC now owns 119,929 shares of the company's stock valued at $6,405,000 after purchasing an additional 464 shares during the period. Finally, Savvy Advisors Inc. lifted its holdings in Rush Enterprises by 15.0% during the 1st quarter. Savvy Advisors Inc. now owns 4,529 shares of the company's stock valued at $242,000 after purchasing an additional 592 shares during the last quarter. Institutional investors and hedge funds own 84.43% of the company's stock.

Insider Buying and Selling at Rush Enterprises

In other news, COO Jason Wilder sold 748 shares of the company's stock in a transaction dated 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 owned 84,672 shares in the company, valued at approximately $4,748,405.76. This represents a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael L. Goldstone sold 4,500 shares of the business's 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 transaction, the senior vice president owned 12,510 shares in the company, valued at $651,771. This represents a 26.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,731 shares of company stock valued at $631,474 in the last quarter. Corporate insiders own 12.28% of the company's stock.

Rush Enterprises Stock Performance

Shares of NASDAQ:RUSHA traded up $2.46 during trading on Tuesday, hitting $57.39. 278,165 shares of the stock traded hands, compared to its average volume of 425,921. The company has a quick ratio of 0.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.23. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 1.56 and a beta of 0.85. The company has a fifty day moving average price of $52.57 and a two-hundred day moving average price of $53.51. Rush Enterprises, Inc. has a 52-week low of $46.30 and a 52-week high of $65.43.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.29%. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. As a group, equities analysts predict that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, August 12th. This is an increase from Rush Enterprises's previous quarterly dividend of $0.18. Rush Enterprises's dividend payout ratio (DPR) is presently 20.51%.

Analyst Ratings Changes

Several brokerages have recently weighed in on RUSHA. Wall Street Zen cut Rush Enterprises from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Stephens reiterated an "overweight" rating on shares of Rush Enterprises in a research report on Monday, August 4th.

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.