QRG Capital Management Inc. Sells 396 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

QRG Capital Management Inc. decreased its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,746 shares of the company’s stock after selling 396 shares during the quarter. QRG Capital Management Inc.’s holdings in Rush Enterprises were worth $734,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RUSHA. Smartleaf Asset Management LLC grew its position in shares of Rush Enterprises by 475.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 851 shares of the company’s stock worth $46,000 after buying an additional 703 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Rush Enterprises by 121.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the company’s stock worth $62,000 after buying an additional 616 shares during the period. GAMMA Investing LLC grew its position in shares of Rush Enterprises by 29.4% during the 1st quarter. GAMMA Investing LLC now owns 1,267 shares of the company’s stock worth $68,000 after buying an additional 288 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Rush Enterprises by 71.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the company’s stock worth $79,000 after buying an additional 596 shares during the period. Finally, Sterling Capital Management LLC grew its position in shares of Rush Enterprises by 833.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,961 shares of the company’s stock worth $107,000 after buying an additional 1,751 shares during the period. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Price Performance

Shares of NASDAQ:RUSHA opened at $49.46 on Friday. The company’s 50-day moving average is $50.42 and its 200 day moving average is $54.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.32 and a current ratio of 1.44. The company has a market capitalization of $3.85 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 1.40 and a beta of 0.88. Rush Enterprises, Inc. has a fifty-two week low of $40.99 and a fifty-two week high of $65.43.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.86 billion. Rush Enterprises had a net margin of 3.76% and a return on equity of 13.82%. On average, equities research analysts forecast that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Monday, May 12th. Rush Enterprises’s dividend payout ratio is currently 20.11%.

Insider Activity at Rush Enterprises

In other news, SVP Michael L. Goldstone sold 4,500 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $52.10, for a total transaction of $234,450.00. Following the sale, the senior vice president now directly owns 12,510 shares in the company, valued at $651,771. This represents a 26.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Jason Wilder sold 483 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $56.39, for a total transaction of $27,236.37. Following the completion of the transaction, the chief operating officer now owns 85,420 shares in the company, valued at approximately $4,816,833.80. This trade represents a 0.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,731 shares of company stock worth $303,634. Company insiders own 12.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RUSHA shares. Wall Street Zen raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Stephens reduced their price target on shares of Rush Enterprises from $63.00 to $61.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd.

Rush Enterprises Company 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.