Tensile Capital Management LP Purchases New Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Tensile Capital Management LP purchased a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 34,354 shares of the company's stock, valued at approximately $1,815,000. Rush Enterprises comprises about 0.2% of Tensile Capital Management LP's holdings, making the stock its 17th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of RUSHA. State Street Corp raised its holdings in shares of Rush Enterprises by 0.7% during the 3rd quarter. State Street Corp now owns 2,349,597 shares of the company's stock worth $124,129,000 after acquiring an additional 16,082 shares during the period. Systematic Financial Management LP acquired a new stake in shares of Rush Enterprises during the 3rd quarter worth approximately $321,000. Quarry LP boosted its position in shares of Rush Enterprises by 86.0% during the 3rd quarter. Quarry LP now owns 1,605 shares of the company's stock worth $85,000 after purchasing an additional 742 shares during the period. Point72 DIFC Ltd acquired a new stake in Rush Enterprises in the 3rd quarter valued at approximately $256,000. Finally, Janus Henderson Group PLC raised its position in Rush Enterprises by 148.1% in the third quarter. Janus Henderson Group PLC now owns 308,204 shares of the company's stock valued at $16,282,000 after purchasing an additional 183,965 shares during the period. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Rush Enterprises

In other Rush Enterprises news, CFO Steven L. Keller sold 43,875 shares of Rush Enterprises stock in a transaction that occurred 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 transaction, the chief financial officer now owns 83,365 shares in the company, valued at approximately $5,308,683.20. The trade was a 34.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William M. Rusty Rush sold 117,500 shares of the business's 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 transaction, the chief executive officer now directly owns 174,154 shares in the company, valued at $11,142,372.92. The trade was a 40.29 % 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 in the last ninety days. 12.53% of the stock is owned by insiders.

Rush Enterprises Price Performance

Shares of Rush Enterprises stock traded up $0.41 during trading on Friday, hitting $62.12. 55,528 shares of the company were exchanged, compared to its average volume of 359,400. The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average price of $56.83 and a 200 day moving average price of $50.77. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 2.32 and a beta of 1.00. Rush Enterprises, Inc. has a fifty-two week low of $40.12 and a fifty-two week high of $65.15.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its 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 net margin of 3.93% and a return on equity of 15.43%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the firm earned $0.96 EPS. The firm's quarterly revenue was down 4.3% on a year-over-year basis. On average, equities analysts expect that Rush Enterprises, Inc. will post 3.45 earnings per share 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. Investors of record on Tuesday, November 12th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Tuesday, November 12th. Rush Enterprises's dividend payout ratio is currently 19.10%.

Rush Enterprises 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.