Rush Enterprises, Inc. (NASDAQ:RUSHA) Director Sells $327,840.00 in Stock

Key Points

• Rush Enterprises Director Michael Mcroberts sold 6,000 shares of stock for a total of $327,840, reducing their position by 27.56% and leaving them with 15,771 shares valued at approximately $861,727.
• The company recently declared a quarterly dividend of $0.19 per share, representing an increase from the previous $0.18 per share, with a current dividend yield of 1.3%.
• Rush Enterprises beat analysts' earnings estimates with reported earnings per share of $0.90 for the last quarter, along with a revenue of $1.93 billion, surpassing expectations of $1.89 billion.

Rush Enterprises, Inc. (NASDAQ:RUSHA - Get Free Report) Director Michael Mcroberts sold 6,000 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $54.64, for a total value of $327,840.00. Following the transaction, the director owned 15,771 shares in the company, valued at $861,727.44. The trade was a 27.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Rush Enterprises Price Performance

RUSHA stock opened at $56.47 on Wednesday. Rush Enterprises, Inc. has a 1 year low of $46.30 and a 1 year high of $65.43. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 1.39. The stock's 50 day moving average price is $52.09 and its 200 day moving average price is $53.71. The firm has a market cap of $4.39 billion, a P/E ratio of 16.09, a PEG ratio of 1.55 and a beta of 0.85.

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

Rush Enterprises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Rush Enterprises's previous quarterly dividend of $0.18. Rush Enterprises's dividend payout ratio is currently 20.51%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RUSHA. Jennison Associates LLC lifted its stake in shares of Rush Enterprises by 73.3% during the 1st quarter. Jennison Associates LLC now owns 882,911 shares of the company's stock worth $47,156,000 after purchasing an additional 373,531 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Rush Enterprises by 303.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 352,922 shares of the company's stock worth $18,179,000 after purchasing an additional 265,432 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Rush Enterprises in the 4th quarter worth $10,628,000. Norges Bank acquired a new position in Rush Enterprises in the fourth quarter valued at $10,127,000. Finally, Nuveen LLC acquired a new position in Rush Enterprises in the first quarter valued at $9,667,000. Hedge funds and other institutional investors own 84.43% of the company's stock.

Analysts Set New Price Targets

RUSHA has been the topic of a number of research reports. Wall Street Zen cut Rush Enterprises from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Stephens reduced their target price on Rush Enterprises from $63.00 to $61.00 and set an "overweight" rating on the stock in a research note 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.

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