Insider Selling: Rush Enterprises (NASDAQ:RUSHA) SVP Sells $194,520.00 in Stock

Key Points

• Rush Enterprises SVP Michael Goldstone sold 2,400 shares for $194,520, reducing his position by 16.01% to 12,590 shares.
• RUSHA shares rose 1.5% to $80.96, near the company’s 52-week high, after quarterly EPS of $0.91 beat estimates and revenue reached $1.90 billion.
• The company will execute a 3-for-2 stock split before trading opens August 11, while analysts maintain a “Moderate Buy” consensus with an average $87 price target.

Rush Enterprises, Inc. (NASDAQ:RUSHA - Get Free Report) SVP Michael Goldstone sold 2,400 shares of the company's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $81.05, for a total transaction of $194,520.00. Following the completion of the transaction, the senior vice president owned 12,590 shares in the company, valued at approximately $1,020,419.50. This represents a 16.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Rush Enterprises Stock Up 1.5%

Shares of NASDAQ:RUSHA traded up $1.17 during trading on Monday, reaching $80.96. 574,250 shares of the stock traded hands, compared to its average volume of 490,922. The stock has a market cap of $6.29 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 1.45. The stock has a 50-day moving average of $72.57 and a two-hundred day moving average of $69.96. Rush Enterprises, Inc. has a 52-week low of $45.67 and a 52-week high of $83.50.

Rush Enterprises's stock is set to split before the market opens on Tuesday, August 11th. The 3-2 split was recently announced. The newly minted shares will be distributed to shareholders after the market closes on Monday, August 10th.

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

Rush Enterprises Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Wednesday, September 9th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $0.56 annualized dividend and a dividend yield of 0.7%. Rush Enterprises's payout ratio is currently 22.89%.

Hedge Funds Weigh In On Rush Enterprises

Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Rush Enterprises by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,774,824 shares of the company's stock worth $203,618,000 after acquiring an additional 29,375 shares during the period. State Street Corp lifted its holdings in Rush Enterprises by 0.3% in the second quarter. State Street Corp now owns 2,359,238 shares of the company's stock valued at $121,524,000 after acquiring an additional 6,994 shares during the period. Jennison Associates LLC lifted its holdings in Rush Enterprises by 166.4% in the first quarter. Jennison Associates LLC now owns 1,121,450 shares of the company's stock valued at $74,139,000 after acquiring an additional 700,511 shares during the period. Global Alpha Capital Management Ltd. boosted its position in Rush Enterprises by 20.6% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 1,012,486 shares of the company's stock worth $54,613,000 after purchasing an additional 173,096 shares during the last quarter. Finally, Beck Mack & Oliver LLC grew its stake in shares of Rush Enterprises by 1.5% during the 4th quarter. Beck Mack & Oliver LLC now owns 983,896 shares of the company's stock valued at $53,071,000 after purchasing an additional 14,995 shares during the period. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on RUSHA shares. Wall Street Zen cut Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Sunday, June 14th. Wolfe Research started coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They set an "outperform" rating and a $88.00 target price on the stock. Weiss Ratings raised shares of Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 23rd. Stephens lifted their price target on shares of Rush Enterprises from $90.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Zacks Research raised shares of Rush Enterprises from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Rush Enterprises presently has a consensus rating of "Moderate Buy" and an average price target of $87.00.

About Rush Enterprises

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.