Insider Selling: Rush Enterprises (NASDAQ:RUSHA) CFO Sells 1,822 Shares of Stock

Key Points

• Rush Enterprises CFO Steven Keller sold 1,822 shares at an average price of $81.12, generating approximately $147,801. He retained 84,374 shares valued at about $6.84 million.
• The company reported quarterly EPS of $0.91, exceeding analysts’ $0.86 estimate, while revenue of $1.90 billion slightly topped expectations. Shares were trading near $80.96, close to their 12-month high of $83.50.
• Rush Enterprises announced a 3-for-2 stock split effective August 11, with shares distributed after the August 10 close. Analysts maintain a “Moderate Buy” consensus and an average price target of $87.

Rush Enterprises, Inc. (NASDAQ:RUSHA - Get Free Report) CFO Steven Keller sold 1,822 shares of Rush Enterprises stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $81.12, for a total value of $147,800.64. Following the sale, the chief financial officer directly owned 84,374 shares of the company's stock, valued at approximately $6,844,418.88. This represents a 2.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Rush Enterprises Stock Performance

Shares of RUSHA stock traded up $1.17 during trading hours on Monday, hitting $80.96. The company's stock had a trading volume of 574,250 shares, compared to its average volume of 490,922. The company has a 50 day moving average of $72.57 and a 200 day moving average of $69.96. The stock has a market cap of $6.29 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87. The company has a current ratio of 1.45, a quick ratio of 0.38 and a debt-to-equity ratio of 0.16. Rush Enterprises, Inc. has a 12-month low of $45.67 and a 12-month high of $83.50.

Shares of Rush Enterprises are going to split on Tuesday, August 11th. The 3-2 split was recently announced. The newly minted shares will be distributed to shareholders after the closing bell on Monday, August 10th.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. The firm had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.89 billion. On average, sell-side analysts forecast that Rush Enterprises, Inc. will post 3.75 EPS for the current fiscal year.

Rush Enterprises Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Wednesday, September 9th will be paid a dividend of $0.14 per share. The ex-dividend date is Wednesday, September 9th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.7%. Rush Enterprises's dividend payout ratio (DPR) is presently 22.89%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RUSHA. Root Financial Partners LLC grew its stake in Rush Enterprises by 75.4% in the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company's stock valued at $27,000 after acquiring an additional 175 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Rush Enterprises by 495.4% in the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company's stock valued at $28,000 after purchasing an additional 431 shares during the period. Private Trust Co. NA increased its stake in shares of Rush Enterprises by 211.4% during the fourth quarter. Private Trust Co. NA now owns 545 shares of the company's stock worth $29,000 after purchasing an additional 370 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of Rush Enterprises during the 3rd quarter worth about $34,000. Finally, Allworth Financial LP lifted its stake in Rush Enterprises by 5,790.9% in the 3rd quarter. Allworth Financial LP now owns 648 shares of the company's stock valued at $35,000 after buying an additional 637 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Zacks Research upgraded Rush Enterprises from a "strong sell" rating to a "hold" rating in a research note on Monday, June 29th. Wall Street Zen downgraded Rush Enterprises from a "buy" rating to a "hold" rating in a report on Sunday, June 14th. Wolfe Research initiated coverage on Rush Enterprises in a research report on Monday, April 27th. They issued an "outperform" rating and a $88.00 price objective on the stock. UBS Group raised their price objective on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings raised shares of Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $87.00.

Rush Enterprises Company Profile

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.

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