Michael Goldstone Sells 4,500 Shares of Rush Enterprises (NASDAQ:RUSHA) Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) SVP Michael Goldstone sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $71.86, for a total transaction of $323,370.00. Following the completion of the sale, the senior vice president owned 12,590 shares in the company, valued at $904,717.40. This represents a 26.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Rush Enterprises Stock Up 0.4%

Shares of NASDAQ:RUSHA opened at $73.58 on Wednesday. Rush Enterprises, Inc. has a 52-week low of $45.67 and a 52-week high of $75.99. The company has a market capitalization of $5.67 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 0.90 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.40. The company has a fifty day moving average of $63.19 and a 200-day moving average of $56.97.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. Rush Enterprises had a return on equity of 11.96% and a net margin of 3.55%.The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. On average, equities analysts predict that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Tuesday, March 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.76 annualized dividend and a dividend yield of 1.0%. Rush Enterprises’s dividend payout ratio is currently 23.24%.

Hedge Funds Weigh In On Rush Enterprises

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in Rush Enterprises by 33.6% in the first quarter. Royal Bank of Canada now owns 10,786 shares of the company’s stock valued at $575,000 after buying an additional 2,715 shares during the period. AQR Capital Management LLC grew its holdings in Rush Enterprises by 8.0% during the 1st quarter. AQR Capital Management LLC now owns 24,509 shares of the company’s stock worth $1,309,000 after acquiring an additional 1,806 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Rush Enterprises by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,225 shares of the company’s stock worth $1,935,000 after acquiring an additional 1,592 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Rush Enterprises by 18.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 390,387 shares of the company’s stock valued at $20,851,000 after purchasing an additional 60,615 shares during the period. Finally, Caxton Associates LLP bought a new stake in shares of Rush Enterprises during the 1st quarter valued at about $221,000. Institutional investors own 84.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RUSHA. Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Weiss Ratings lowered shares of Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, February 10th. UBS Group reissued a “neutral” rating and issued a $73.00 price objective (up from $70.00) on shares of Rush Enterprises in a research note on Wednesday, February 18th. Wall Street Zen raised Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Stephens reaffirmed an “overweight” rating and set a $80.00 target price (up from $55.00) on shares of Rush Enterprises in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $76.50.

About Rush Enterprises

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.