Rush Enterprises, Inc. (NASDAQ:RUSHA) CEO Sells $7,517,650.00 in Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) CEO William M. Rusty Rush sold 117,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $63.98, for a total transaction of $7,517,650.00. Following the transaction, the chief executive officer now owns 174,154 shares in the company, valued at approximately $11,142,372.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Rush Enterprises Stock Performance

Shares of Rush Enterprises stock opened at $62.95 on Friday. The company has a market capitalization of $4.96 billion, a PE ratio of 16.70, a P/E/G ratio of 2.44 and a beta of 0.99. The company has a 50-day simple moving average of $52.82 and a two-hundred day simple moving average of $48.68. Rush Enterprises, Inc. has a one year low of $37.13 and a one year high of $65.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.40.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.95 by $0.02. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.84 billion. Rush Enterprises had a net margin of 3.93% and a return on equity of 15.43%. Rush Enterprises’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.96 EPS. Research analysts expect that Rush Enterprises, Inc. will post 3.45 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.72 annualized dividend and a yield of 1.14%. Rush Enterprises’s dividend payout ratio (DPR) is 19.10%.

Wall Street Analyst Weigh In

Separately, Stephens increased their target price on Rush Enterprises from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, November 1st.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RUSHA. Allspring Global Investments Holdings LLC raised its stake in shares of Rush Enterprises by 64.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,028 shares of the company’s stock worth $644,000 after purchasing an additional 4,706 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Rush Enterprises by 89.6% during the 1st quarter. BNP Paribas Financial Markets now owns 33,557 shares of the company’s stock worth $1,796,000 after purchasing an additional 15,856 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Rush Enterprises during the 1st quarter worth $625,000. Capstone Investment Advisors LLC purchased a new stake in shares of Rush Enterprises in the first quarter valued at approximately $271,000. Finally, Texas Permanent School Fund Corp grew its holdings in shares of Rush Enterprises by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 53,911 shares of the company’s stock valued at $2,885,000 after purchasing an additional 705 shares during the period. 84.43% of the stock is owned by institutional investors and hedge funds.

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.