Dynamic Technology Lab Private Ltd Takes Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Dynamic Technology Lab Private Ltd bought a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) in the third quarter, HoldingsChannel reports. The fund bought 4,670 shares of the company’s stock, valued at approximately $247,000.

Other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Rush Enterprises by 2.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 97,444 shares of the company’s stock worth $5,216,000 after buying an additional 1,996 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Rush Enterprises in the first quarter valued at $214,000. Harbor Capital Advisors Inc. boosted its stake in Rush Enterprises by 499.1% in the second quarter. Harbor Capital Advisors Inc. now owns 14,138 shares of the company’s stock valued at $592,000 after acquiring an additional 11,778 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Rush Enterprises by 41.3% during the second quarter. Hexagon Capital Partners LLC now owns 982 shares of the company’s stock worth $41,000 after purchasing an additional 287 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Rush Enterprises by 21.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,743 shares of the company’s stock worth $408,000 after purchasing an additional 1,746 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Rush Enterprises Stock Performance

Shares of RUSHA opened at $61.95 on Monday. The company’s 50 day simple moving average is $56.12 and its 200-day simple moving average is $50.36. The firm has a market cap of $4.90 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 2.34 and a beta of 0.99. Rush Enterprises, Inc. has a 12-month low of $39.25 and a 12-month high of $65.15. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.02. Rush Enterprises had a net margin of 3.93% and a return on equity of 15.43%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the firm posted $0.96 EPS. Rush Enterprises’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities analysts predict 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. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Tuesday, November 12th. Rush Enterprises’s dividend payout ratio is presently 19.10%.

Insiders Place Their Bets

In related news, CFO Steven L. Keller sold 43,875 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $63.68, for a total value of $2,793,960.00. Following the completion of the sale, the chief financial officer now owns 83,365 shares in the company, valued at $5,308,683.20. This trade represents a 34.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William M. Rusty Rush sold 117,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $63.98, for a total value of $7,517,650.00. Following the transaction, the chief executive officer now owns 174,154 shares in the company, valued at $11,142,372.92. The trade was a 40.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 176,000 shares of company stock valued at $11,167,173. 12.53% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Stephens upped 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.

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.