Rush Enterprises (NASDAQ:RUSHA) SVP Sells $170,730.00 in Stock

Key Points

• Insider sale: SVP Michael Goldstone sold 2,100 Rush Enterprises shares for $170,730, reducing his direct holdings by 14.3% to 12,590 shares.
• Stock performance and split: Shares traded near $80.96, close to their 52-week high of $83.50, and the company is scheduled to implement a 3-for-2 stock split on August 11.
• Business outlook: Rush Enterprises exceeded quarterly earnings expectations with $0.91 EPS and $1.90 billion in revenue. Analysts maintain a “Moderate Buy” consensus with an average price target of $87, while the company pays a $0.14 quarterly dividend.

Rush Enterprises, Inc. (NASDAQ:RUSHA - Get Free Report) SVP Michael Goldstone sold 2,100 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $81.30, for a total transaction of $170,730.00. Following the completion of the sale, the senior vice president directly owned 12,590 shares in the company, valued at approximately $1,023,567. The trade was a 14.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Rush Enterprises Price Performance

Shares of Rush Enterprises stock traded up $1.17 during mid-day trading on Monday, reaching $80.96. 574,250 shares of the stock were exchanged, compared to its average volume of 490,922. Rush Enterprises, Inc. has a fifty-two week low of $45.67 and a fifty-two week high of $83.50. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87. The firm has a 50-day simple moving average of $72.57 and a 200 day simple moving average of $69.96. 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 shares are set to split on the morning of Tuesday, August 11th. The 3-2 split was recently announced. The newly issued shares will be issued to shareholders after the market closes on Monday, August 10th.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. On average, sell-side analysts predict that Rush Enterprises, Inc. will post 3.75 EPS 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. Investors of record on Wednesday, September 9th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Rush Enterprises's dividend payout ratio (DPR) is currently 22.89%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RUSHA shares. Stephens boosted their price objective on Rush Enterprises from $90.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday. Weiss Ratings upgraded Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 23rd. Zacks Research raised Rush Enterprises from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Wolfe Research started coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They set an "outperform" rating and a $88.00 price target on the stock. Finally, UBS Group upped their target price on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $87.00.

Hedge Funds Weigh In On Rush Enterprises

Large investors have recently made changes to their positions in the company. Root Financial Partners LLC boosted its holdings in Rush Enterprises by 75.4% in the first 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 last quarter. CIBC Private Wealth Group LLC raised its holdings in Rush Enterprises by 495.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company's stock worth $28,000 after purchasing an additional 431 shares during the last quarter. Private Trust Co. NA raised its holdings in Rush Enterprises by 211.4% during the 4th quarter. Private Trust Co. NA now owns 545 shares of the company's stock worth $29,000 after purchasing an additional 370 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Rush Enterprises during the 3rd quarter worth approximately $34,000. Finally, Allworth Financial LP grew its position in shares of Rush Enterprises by 5,790.9% during the 3rd quarter. Allworth Financial LP now owns 648 shares of the company's stock worth $35,000 after buying an additional 637 shares during the period. Institutional investors and hedge funds own 84.43% of the company's stock.

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.

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