Redwood Investments LLC Cuts Stock Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Redwood Investments LLC cut its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 78.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,560 shares of the company's stock after selling 272,030 shares during the period. Redwood Investments LLC owned 0.10% of Rush Enterprises worth $3,801,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RUSHA. Comerica Bank raised its position in shares of Rush Enterprises by 66,200.0% in the third quarter. Comerica Bank now owns 663 shares of the company's stock valued at $27,000 after buying an additional 662 shares in the last quarter. West Tower Group LLC acquired a new stake in shares of Rush Enterprises in the second quarter valued at approximately $59,000. Gladius Capital Management LP raised its position in shares of Rush Enterprises by 891.2% in the third quarter. Gladius Capital Management LP now owns 1,120 shares of the company's stock valued at $46,000 after buying an additional 1,007 shares in the last quarter. Quarry LP raised its position in shares of Rush Enterprises by 543.8% in the first quarter. Quarry LP now owns 1,249 shares of the company's stock valued at $68,000 after buying an additional 1,055 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Rush Enterprises by 37.2% in the third quarter. Tower Research Capital LLC TRC now owns 1,682 shares of the company's stock valued at $69,000 after buying an additional 456 shares in the last quarter. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, SVP Jody Pollard sold 11,250 shares of the company's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $48.28, for a total value of $543,150.00. Following the completion of the sale, the senior vice president now directly owns 2,777 shares of the company's stock, valued at approximately $134,073.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.10% of the stock is currently owned by insiders.

Rush Enterprises Trading Down 1.0 %

RUSHA stock traded down $0.54 during midday trading on Monday, hitting $52.98. The stock had a trading volume of 335,134 shares, compared to its average volume of 405,115. The firm has a market cap of $4.13 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 1.25 and a beta of 1.02. The company has a current ratio of 1.35, a quick ratio of 0.27 and a debt-to-equity ratio of 0.27. Rush Enterprises, Inc. has a 1-year low of $33.37 and a 1-year high of $53.78. The business has a fifty day moving average price of $48.06 and a two-hundred day moving average price of $43.70.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its earnings results on Tuesday, February 13th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.11. Rush Enterprises had a net margin of 4.38% and a return on equity of 18.44%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the business earned $1.16 earnings per share. Rush Enterprises's revenue for the quarter was up 7.8% on a year-over-year basis. On average, sell-side analysts predict that Rush Enterprises, Inc. will post 2.85 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Tuesday, February 27th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Monday, February 26th. Rush Enterprises's payout ratio is presently 16.41%.

Analyst Ratings Changes

A number of analysts have weighed in on RUSHA shares. StockNews.com cut shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Monday, January 1st. Stephens reaffirmed an "overweight" rating and set a $58.00 target price on shares of Rush Enterprises in a research note on Wednesday, February 14th.

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.