GSA Capital Partners LLP Makes New Investment in Rush Enterprises, Inc. (NASDAQ:RUSHA)

GSA Capital Partners LLP acquired a new position in Rush Enterprises, Inc. (NASDAQ:RUSHA) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,973 shares of the company’s stock, valued at approximately $421,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Rush Enterprises in the second quarter valued at $36,000. Blue Trust Inc. lifted its stake in Rush Enterprises by 266.1% in the third quarter. Blue Trust Inc. now owns 703 shares of the company’s stock valued at $37,000 after buying an additional 511 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Rush Enterprises by 41.3% in the second quarter. Hexagon Capital Partners LLC now owns 982 shares of the company’s stock valued at $41,000 after buying an additional 287 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in Rush Enterprises in the second quarter valued at $41,000. Finally, GAMMA Investing LLC lifted its stake in Rush Enterprises by 147.5% in the third quarter. GAMMA Investing LLC now owns 787 shares of the company’s stock valued at $42,000 after buying an additional 469 shares during the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA opened at $58.27 on Thursday. Rush Enterprises, Inc. has a fifty-two week low of $38.10 and a fifty-two week high of $65.15. The firm’s 50-day simple moving average is $54.72 and its 200 day simple moving average is $49.59. The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.23. The stock has a market cap of $4.60 billion, a P/E ratio of 15.46, a P/E/G ratio of 2.29 and a beta of 0.99.

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

Rush Enterprises Dividend Announcement

The business also recently disclosed 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. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Tuesday, November 12th. Rush Enterprises’s dividend payout ratio is currently 19.10%.

Analyst Upgrades and Downgrades

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

Insider Activity at Rush Enterprises

In other Rush Enterprises news, CEO William M. Rusty Rush sold 117,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $63.98, for a total value of $7,517,650.00. Following the completion of the sale, the chief executive officer now directly owns 174,154 shares of the company’s stock, valued at approximately $11,142,372.92. This represents a 40.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven L. Keller sold 14,625 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.50, for a total transaction of $855,562.50. Following the completion of the sale, the chief financial officer now directly owns 83,365 shares of the company’s stock, valued at $4,876,852.50. The trade was a 14.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 216,000 shares of company stock worth $13,319,573 over the last ninety days. 12.53% of the stock is currently owned by corporate insiders.

Rush Enterprises 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.