Forager Capital Management LLC Purchases 45,000 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

Forager Capital Management LLC increased its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 11.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 448,089 shares of the company's stock after buying an additional 45,000 shares during the period. Rush Enterprises accounts for approximately 9.3% of Forager Capital Management LLC's holdings, making the stock its 5th biggest holding. Forager Capital Management LLC owned about 0.57% of Rush Enterprises worth $23,673,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RUSHA. Wealth Enhancement Advisory Services LLC lifted its position in Rush Enterprises by 21.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 9,743 shares of the company's stock worth $408,000 after buying an additional 1,746 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Rush Enterprises by 6.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,047,905 shares of the company's stock worth $43,875,000 after buying an additional 63,413 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in Rush Enterprises by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 31,100 shares of the company's stock valued at $1,302,000 after purchasing an additional 600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Rush Enterprises by 7.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,889 shares of the company's stock valued at $749,000 after purchasing an additional 1,280 shares during the period. Finally, Innealta Capital LLC acquired a new position in Rush Enterprises during the 2nd quarter valued at about $115,000. Institutional investors and hedge funds own 84.43% of the company's stock.

Insider Transactions at Rush Enterprises

In other news, CEO William M. Rusty Rush sold 117,500 shares of the stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Steven L. Keller sold 14,625 shares of the firm's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $58.50, for a total value of $855,562.50. Following the completion of the transaction, the chief financial officer now owns 83,365 shares in the company, valued at $4,876,852.50. The trade was a 14.92 % 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 ninety days. 12.53% of the stock is currently owned by corporate insiders.

Rush Enterprises Stock Up 1.8 %

NASDAQ RUSHA traded up $1.09 during trading hours on Wednesday, reaching $61.74. 56,299 shares of the company's stock were exchanged, compared to its average volume of 357,826. The company's 50-day moving average is $57.36 and its two-hundred day moving average is $51.21. Rush Enterprises, Inc. has a one year low of $40.45 and a one year 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 company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 2.22 and a beta of 1.00.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $1.84 billion. During the same period in the prior year, the business earned $0.96 EPS. Rush Enterprises's revenue for the quarter was down 4.3% compared to the same quarter last year. On average, analysts forecast that Rush Enterprises, Inc. will post 3.64 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.72 annualized dividend and a dividend yield of 1.17%. Rush Enterprises's dividend payout ratio is currently 19.10%.

Analysts Set New Price Targets

Separately, Stephens upped their target price 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.

About Rush Enterprises

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.