Harspring Capital Management LLC Sells 20,000 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

Harspring Capital Management LLC lowered its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 6.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 310,000 shares of the company's stock after selling 20,000 shares during the period. Rush Enterprises comprises about 3.9% of Harspring Capital Management LLC's portfolio, making the stock its 10th biggest holding. Harspring Capital Management LLC owned about 0.39% of Rush Enterprises worth $16,377,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of RUSHA. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Rush Enterprises in the 3rd quarter valued at $137,000. Verition Fund Management LLC acquired a new stake in shares of Rush Enterprises during the third quarter valued at about $685,000. BNP Paribas Financial Markets grew its holdings in shares of Rush Enterprises by 93.8% during the third quarter. BNP Paribas Financial Markets now owns 69,018 shares of the company's stock worth $3,646,000 after purchasing an additional 33,397 shares during the last quarter. FMR LLC increased its stake in shares of Rush Enterprises by 34.8% in the third quarter. FMR LLC now owns 5,174,262 shares of the company's stock valued at $273,356,000 after buying an additional 1,336,528 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Rush Enterprises during the 3rd quarter worth approximately $247,000. 84.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rush Enterprises

In other Rush Enterprises news, CEO William M. Rusty Rush sold 117,500 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $11,142,372.92. This represents a 40.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven L. Keller sold 14,625 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $58.50, for a total transaction of $855,562.50. Following the completion of the sale, the chief financial officer now directly owns 83,365 shares of the company's stock, valued at $4,876,852.50. This trade represents a 14.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 176,000 shares of company stock worth $11,167,173 over the last three months. Insiders own 12.53% of the company's stock.

Analyst Ratings Changes

Separately, Stephens lifted their price target on shares of Rush Enterprises from $66.00 to $69.00 and gave the company an "overweight" rating in a research report on Friday, November 1st.

Rush Enterprises Stock Performance

Rush Enterprises stock traded down $0.73 during mid-day trading on Tuesday, reaching $61.28. 733,215 shares of the company traded hands, compared to its average volume of 361,728. Rush Enterprises, Inc. has a fifty-two week low of $40.03 and a fifty-two week high of $65.15. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 2.34 and a beta of 1.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 0.28. The firm's fifty day moving average is $56.31 and its two-hundred day moving average is $50.50.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.02. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the business earned $0.96 earnings per share. The business's revenue was down 4.3% compared to the same quarter last year. On average, equities research analysts expect that Rush Enterprises, Inc. will post 3.45 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 1.17%. The ex-dividend date of this dividend is Tuesday, November 12th. Rush Enterprises's payout ratio is 19.10%.

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.