Michael Goldstone Sells 4,500 Shares of Rush Enterprises (NASDAQ:RUSHA) Stock

Key Points

• Michael Goldstone, SVP of Rush Enterprises, sold 4,500 shares of stock at an average price of $57.25, reducing his ownership by 26.46%.
• Rush Enterprises reported a net margin of 3.73% and a return on equity of 13.29% in its latest quarterly earnings, surpassing analyst expectations for both earnings per share and revenue.
• The company recently announced an increase in its quarterly dividend from $0.18 to $0.19 per share, effective September 12th, representing a 1.3% dividend yield.

Rush Enterprises, Inc. (NASDAQ:RUSHA - Get Free Report) SVP Michael Goldstone sold 4,500 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $57.25, for a total transaction of $257,625.00. Following the completion of the sale, the senior vice president owned 12,510 shares in the company, valued at $716,197.50. This represents a 26.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rush Enterprises Price Performance

Shares of Rush Enterprises stock traded down $0.72 on Monday, hitting $58.18. 248,450 shares of the company traded hands, compared to its average volume of 383,035. The firm's 50-day simple moving average is $53.73 and its 200 day simple moving average is $53.31. The company has a current ratio of 1.39, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23. The company has a market cap of $4.53 billion, a P/E ratio of 16.58, a P/E/G ratio of 1.66 and a beta of 0.85. Rush Enterprises, Inc. has a 12-month low of $46.30 and a 12-month high of $65.43.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.10. The firm had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.89 billion. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.29%. Analysts expect that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.19 per share. This is an increase from Rush Enterprises's previous quarterly dividend of $0.18. The ex-dividend date is Tuesday, August 12th. This represents a $0.76 annualized dividend and a dividend yield of 1.3%. Rush Enterprises's dividend payout ratio is 21.65%.

Analyst Upgrades and Downgrades

RUSHA has been the topic of several research reports. Wall Street Zen cut shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Stephens restated an "overweight" rating on shares of Rush Enterprises in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $61.00.

Hedge Funds Weigh In On Rush Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of RUSHA. American Century Companies Inc. boosted its stake in shares of Rush Enterprises by 540.0% during the 2nd quarter. American Century Companies Inc. now owns 846,512 shares of the company's stock valued at $43,604,000 after purchasing an additional 714,253 shares in the last quarter. Rivulet Capital LLC bought a new stake in Rush Enterprises during the second quarter worth about $19,286,000. Jennison Associates LLC lifted its stake in shares of Rush Enterprises by 73.3% in the first quarter. Jennison Associates LLC now owns 882,911 shares of the company's stock worth $47,156,000 after buying an additional 373,531 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Rush Enterprises by 91.9% in the second quarter. Ameriprise Financial Inc. now owns 628,855 shares of the company's stock worth $32,392,000 after buying an additional 301,119 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in shares of Rush Enterprises by 303.4% in the second quarter. Allianz Asset Management GmbH now owns 352,922 shares of the company's stock worth $18,179,000 after buying an additional 265,432 shares in the last quarter. 84.43% of the stock is owned by institutional investors.

About Rush Enterprises

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.

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