Verition Fund Management LLC Takes $685,000 Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Verition Fund Management LLC acquired a new position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,971 shares of the company's stock, valued at approximately $685,000.

Several other institutional investors have also recently made changes to their positions in the business. Blue Trust Inc. lifted its holdings in Rush Enterprises by 266.1% in the third quarter. Blue Trust Inc. now owns 703 shares of the company's stock valued at $37,000 after acquiring an additional 511 shares during the period. GAMMA Investing LLC lifted its stake in shares of Rush Enterprises by 147.5% in the 3rd quarter. GAMMA Investing LLC now owns 787 shares of the company's stock valued at $42,000 after purchasing an additional 469 shares during the period. Quarry LP purchased a new stake in Rush Enterprises during the second quarter worth $36,000. Future Financial Wealth Managment LLC acquired a new stake in Rush Enterprises during the third quarter valued at $53,000. Finally, Costello Asset Management INC acquired a new stake in Rush Enterprises during the third quarter valued at $58,000. Hedge funds and other institutional investors own 84.43% of the company's stock.

Analyst Upgrades and Downgrades

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

Rush Enterprises Trading Up 1.2 %

Shares of Rush Enterprises stock traded up $0.75 on Wednesday, reaching $61.40. The company had a trading volume of 382,215 shares, compared to its average volume of 359,214. 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 firm has a market cap of $4.85 billion, a PE ratio of 16.29, a PEG ratio of 2.22 and a beta of 1.00. The firm's 50 day moving average price is $57.58 and its two-hundred day moving average price is $51.28. Rush Enterprises, Inc. has a 52-week low of $40.45 and a 52-week high of $65.15.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.02. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.84 billion. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%. The company's quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 EPS. Sell-side analysts predict that Rush Enterprises, Inc. will post 3.64 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

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

Insider Buying and Selling 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 directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven L. Keller sold 14,625 shares of the firm's 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 transaction, the chief financial officer now owns 83,365 shares in the company, valued at approximately $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.

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.