Rush Enterprises, Inc. (NASDAQ:RUSHA) Shares Bought by Millennium Management LLC

Millennium Management LLC boosted its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 116.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 299,038 shares of the company's stock after acquiring an additional 160,922 shares during the period. Millennium Management LLC owned 0.38% of Rush Enterprises worth $16,384,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Rush Enterprises by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,633 shares of the company's stock valued at $1,898,000 after purchasing an additional 1,338 shares during the period. Janus Henderson Group PLC raised its position in Rush Enterprises by 6.8% in the fourth quarter. Janus Henderson Group PLC now owns 329,027 shares of the company's stock valued at $18,028,000 after purchasing an additional 20,823 shares during the period. Jefferies Financial Group Inc. purchased a new stake in Rush Enterprises in the fourth quarter valued at approximately $241,000. Deutsche Bank AG raised its position in Rush Enterprises by 2.1% in the fourth quarter. Deutsche Bank AG now owns 677,750 shares of the company's stock valued at $37,134,000 after purchasing an additional 13,745 shares during the period. Finally, Dean Capital Management raised its position in Rush Enterprises by 36.2% in the fourth quarter. Dean Capital Management now owns 34,182 shares of the company's stock valued at $1,873,000 after purchasing an additional 9,094 shares during the period. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Rush Enterprises Stock Up 2.4%

Shares of Rush Enterprises stock traded up $1.16 during trading hours on Tuesday, reaching $50.08. 274,458 shares of the company were exchanged, compared to its average volume of 383,625. Rush Enterprises, Inc. has a 1 year low of $40.99 and a 1 year high of $65.43. The stock's fifty day moving average is $51.51 and its 200 day moving average is $56.01. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.45. The firm has a market cap of $3.90 billion, a PE ratio of 13.43, a PEG ratio of 1.04 and a beta of 0.94.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, topping 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 business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.86 billion. As a group, equities research analysts forecast that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Monday, May 12th. Rush Enterprises's dividend payout ratio is currently 20.11%.

Insider Buying and Selling

In related news, SVP Michael L. Goldstone sold 4,500 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $52.10, for a total transaction of $234,450.00. Following the completion of the transaction, the senior vice president now owns 12,510 shares in the company, valued at approximately $651,771. The trade was a 26.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jason Wilder sold 748 shares of the business'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 transaction, the chief operating officer now owns 84,672 shares of the company's stock, valued at approximately $4,748,405.76. The trade was a 0.88% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,731 shares of company stock worth $303,634. Corporate insiders own 12.28% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Stephens cut 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 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.