Renaissance Technologies LLC Lowers Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Renaissance Technologies LLC decreased its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA – Get Rating) by 16.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 241,510 shares of the company’s stock after selling 48,400 shares during the period. Renaissance Technologies LLC owned approximately 0.44% of Rush Enterprises worth $10,593,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new stake in Rush Enterprises during the second quarter valued at about $30,000. Assetmark Inc. raised its position in Rush Enterprises by 30.8% during the third quarter. Assetmark Inc. now owns 1,203 shares of the company’s stock valued at $53,000 after purchasing an additional 283 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of Rush Enterprises by 3,818.2% during the third quarter. Quantbot Technologies LP now owns 2,155 shares of the company’s stock valued at $94,000 after buying an additional 2,100 shares during the last quarter. FNY Investment Advisers LLC grew its stake in shares of Rush Enterprises by 448.7% during the third quarter. FNY Investment Advisers LLC now owns 2,579 shares of the company’s stock valued at $113,000 after buying an additional 2,109 shares during the last quarter. Finally, Advisor Group Holdings Inc. grew its stake in shares of Rush Enterprises by 55.9% during the first quarter. Advisor Group Holdings Inc. now owns 3,207 shares of the company’s stock valued at $164,000 after buying an additional 1,150 shares during the last quarter. Hedge funds and other institutional investors own 76.83% of the company’s stock.

Rush Enterprises Stock Up 0.3 %

Shares of NASDAQ:RUSHA opened at $57.80 on Monday. The stock’s 50-day moving average price is $54.34 and its 200-day moving average price is $50.72. Rush Enterprises, Inc. has a 12-month low of $42.72 and a 12-month high of $62.20. The stock has a market capitalization of $3.14 billion, a P/E ratio of 8.44, a price-to-earnings-growth ratio of 0.74 and a beta of 0.96. The company has a current ratio of 1.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.21.

Rush Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 16th. Stockholders of record on Monday, February 27th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, February 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.45%. Rush Enterprises’s dividend payout ratio (DPR) is currently 12.26%.

Wall Street Analysts Forecast Growth

Separately, Stephens reaffirmed an “overweight” rating and set a $64.00 price objective on shares of Rush Enterprises in a research note on Thursday, February 16th.

Insider Buying and Selling

In related news, COO Michael Mcroberts sold 9,000 shares of the firm’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $61.34, for a total value of $552,060.00. Following the sale, the chief operating officer now directly owns 9,701 shares of the company’s stock, valued at $595,059.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Michael Mcroberts sold 9,000 shares of the firm’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $61.34, for a total value of $552,060.00. Following the sale, the chief operating officer now directly owns 9,701 shares of the company’s stock, valued at $595,059.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jody Pollard sold 5,365 shares of the firm’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $61.50, for a total value of $329,947.50. Following the completion of the sale, the senior vice president now directly owns 1,600 shares in the company, valued at $98,400. The disclosure for this sale can be found here. 12.21% of the stock is owned by insiders.

Rush Enterprises Profile

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Rush Enterprises, Inc engages in the provision of commercial vehicle industry solutions through its network of commercial vehicle dealerships The firm provides an integrated, one-stop approach to the service and sales of new and used heavy- and medium-duty trucks, aftermarket parts, service, collision center capabilities, chrome accessories, tires, engineered vehicle modification solutions, and a range of financial services including financing, insurance and leasing, and rental options.