Private Management Group Inc. Trims Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Private Management Group Inc. lowered its position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 7.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 319,120 shares of the company's stock after selling 24,746 shares during the period. Private Management Group Inc. owned about 0.41% of Rush Enterprises worth $16,859,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP purchased a new stake in Rush Enterprises during the second quarter worth about $36,000. Blue Trust Inc. increased its holdings in Rush Enterprises by 266.1% during the third quarter. Blue Trust Inc. now owns 703 shares of the company's stock worth $37,000 after buying an additional 511 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in 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 buying an additional 287 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in Rush Enterprises during the second quarter worth about $41,000. Finally, GAMMA Investing LLC increased its holdings in Rush Enterprises by 147.5% during the third quarter. GAMMA Investing LLC now owns 787 shares of the company's stock worth $42,000 after buying an additional 469 shares during the last quarter. Hedge funds and other institutional investors own 84.43% of the company's stock.

Insider Transactions at Rush Enterprises

In other news, SVP Jason Wilder sold 4,500 shares of the business's stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $51.68, for a total value of $232,560.00. Following the completion of the sale, the senior vice president now directly owns 534 shares in the company, valued at approximately $27,597.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO William M. Rusty Rush sold 40,000 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $53.81, for a total transaction of $2,152,400.00. Following the completion of the sale, the chief executive officer now directly owns 174,154 shares in the company, valued at $9,371,226.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Jason Wilder sold 4,500 shares of the company's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $51.68, for a total transaction of $232,560.00. Following the sale, the senior vice president now owns 534 shares of the company's stock, valued at $27,597.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,875 shares of company stock worth $3,422,554. 12.53% of the stock is currently owned by insiders.

Rush Enterprises Price Performance

Shares of RUSHA stock traded up $0.88 during trading hours on Friday, reaching $57.46. The stock had a trading volume of 599,934 shares, compared to its average volume of 310,229. The stock's fifty day simple moving average is $51.94 and its 200 day simple moving average is $48.23. 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, Inc. has a 12 month low of $36.40 and a 12 month high of $60.55. The firm has a market capitalization of $4.53 billion, a PE ratio of 15.24, a PEG ratio of 2.14 and a beta of 0.99.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.97 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the previous year, the company earned $0.96 EPS. The business's quarterly revenue was down 4.3% compared to the same quarter last year. On average, equities research analysts predict that Rush Enterprises, Inc. will post 3.45 EPS for the current year.

Rush Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.25%. Rush Enterprises's payout ratio is 19.10%.

Wall Street Analysts Forecast Growth

Separately, Stephens increased their target price on shares of Rush Enterprises from $66.00 to $69.00 and gave the stock an "overweight" rating in a research report on Friday.

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.