Algert Global LLC Raises Stake in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Algert Global LLC grew its position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 284.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 159,610 shares of the company's stock after acquiring an additional 118,041 shares during the quarter. Algert Global LLC owned about 0.20% of Rush Enterprises worth $8,432,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. O Shaughnessy Asset Management LLC increased its holdings in shares of Rush Enterprises by 14.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 14,174 shares of the company's stock valued at $759,000 after purchasing an additional 1,767 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of Rush Enterprises by 3.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 83,642 shares of the company's stock worth $4,471,000 after acquiring an additional 3,056 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rush Enterprises by 2.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 97,444 shares of the company's stock valued at $5,216,000 after acquiring an additional 1,996 shares in the last quarter. Castleark Management LLC acquired a new position in shares of Rush Enterprises during the first quarter worth about $4,637,000. Finally, EMC Capital Management raised its holdings in Rush Enterprises by 26.6% during the first quarter. EMC Capital Management now owns 9,603 shares of the company's stock worth $514,000 after purchasing an additional 2,019 shares in the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, CEO William M. Rusty Rush sold 117,500 shares of the business'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 completion of the transaction, the chief executive officer now directly owns 174,154 shares in the company, valued at approximately $11,142,372.92. The trade was a 40.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Steven L. Keller sold 43,875 shares of Rush Enterprises stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $63.68, for a total value of $2,793,960.00. Following the completion of the sale, the chief financial officer now directly owns 83,365 shares of the company's stock, valued at approximately $5,308,683.20. This represents a 34.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 176,000 shares of company stock valued at $11,167,173 in the last 90 days. 12.53% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Rush Enterprises Price Performance

NASDAQ:RUSHA traded up $0.68 during trading hours on Friday, hitting $60.00. The company's stock had a trading volume of 416,606 shares, compared to its average volume of 517,383. Rush Enterprises, Inc. has a 52-week low of $38.43 and a 52-week high of $65.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.40. The business's 50-day moving average is $55.11 and its two-hundred day moving average is $49.80. The company has a market capitalization of $4.74 billion, a PE ratio of 15.92, a PEG ratio of 2.24 and a beta of 0.99.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced 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. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.84 billion. Rush Enterprises had a net margin of 3.93% and a return on equity of 15.43%. The business's revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.96 EPS. As a group, research analysts anticipate that Rush Enterprises, Inc. will post 3.45 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Tuesday, November 12th. Rush Enterprises's dividend payout ratio (DPR) 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.