GAMMA Investing LLC Raises Stock Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

GAMMA Investing LLC increased its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 6,812.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,670 shares of the company's stock after acquiring an additional 66,691 shares during the quarter. GAMMA Investing LLC owned about 0.09% of Rush Enterprises worth $3,614,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its position in Rush Enterprises by 1.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,183 shares of the company's stock worth $613,000 after purchasing an additional 186 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Rush Enterprises by 0.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 30,100 shares of the company's stock valued at $1,649,000 after purchasing an additional 200 shares during the period. Summit Investment Advisors Inc. raised its stake 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 valued at $349,000 after purchasing an additional 202 shares during the period. QRG Capital Management Inc. raised its stake in shares of Rush Enterprises by 4.3% during the 4th quarter. QRG Capital Management Inc. now owns 14,142 shares of the company's stock valued at $775,000 after purchasing an additional 578 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Rush Enterprises by 71.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the company's stock worth $79,000 after acquiring an additional 596 shares during the last quarter. 84.43% of the stock is currently owned by institutional investors.

Rush Enterprises Stock Down 2.9%

RUSHA stock traded down $1.46 during trading on Friday, hitting $49.72. 259,444 shares of the stock traded hands, compared to its average volume of 387,578. Rush Enterprises, Inc. has a 1 year low of $40.99 and a 1 year high of $65.43. The firm's 50 day moving average is $50.68 and its two-hundred day moving average is $55.03. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 1.04 and a beta of 0.89. 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 issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.86 billion. Rush Enterprises had a return on equity of 14.76% and a net margin of 3.90%. On average, sell-side analysts anticipate that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were given a $0.18 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.72 annualized dividend and a dividend yield of 1.45%. Rush Enterprises's payout ratio is 20.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RUSHA shares. Stephens reduced their price objective 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. Wall Street Zen upgraded Rush Enterprises from a "hold" rating to a "buy" rating in a report on Saturday.

Insider Activity

In other news, SVP Michael L. Goldstone sold 4,500 shares of the company'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 transaction, the senior vice president now owns 12,510 shares of the company's stock, valued at approximately $651,771. This represents a 26.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jason Wilder sold 483 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $56.39, for a total value of $27,236.37. Following the transaction, the chief operating officer now directly owns 85,420 shares in the company, valued at approximately $4,816,833.80. This represents a 0.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,731 shares of company stock worth $303,634 over the last ninety days. Corporate insiders own 12.28% of the company's stock.

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.