Victory Capital Management Inc. Sells 21,781 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

Victory Capital Management Inc. decreased its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 15.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 122,879 shares of the company's stock after selling 21,781 shares during the quarter. Victory Capital Management Inc. owned 0.16% of Rush Enterprises worth $6,492,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of RUSHA. O Shaughnessy Asset Management LLC boosted 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 acquiring an additional 1,767 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in Rush Enterprises during the first quarter valued at about $612,000. CANADA LIFE ASSURANCE Co grew its holdings in Rush Enterprises by 3.8% during the first 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 position in shares of Rush Enterprises by 2.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 97,444 shares of the company's stock valued at $5,216,000 after purchasing an additional 1,996 shares in the last quarter. Finally, Castleark Management LLC acquired a new position in shares of Rush Enterprises in the 1st quarter worth approximately $4,637,000. 84.43% of the stock is owned by institutional investors and hedge funds.

Rush Enterprises Stock Performance

Shares of NASDAQ:RUSHA traded up $0.68 during midday trading 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 fifty-two week low of $38.43 and a fifty-two 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 stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 2.24 and a beta of 0.99. The stock's 50 day simple moving average is $55.11 and its 200 day simple moving average is $49.80.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.02. The business had revenue of $1.90 billion for 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%. Rush Enterprises's quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company posted $0.96 earnings per share. As a group, research analysts anticipate that Rush Enterprises, Inc. will post 3.45 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.20%. Rush Enterprises's dividend payout ratio is currently 19.10%.

Insider Transactions at Rush Enterprises

In other news, CFO Steven L. Keller sold 14,625 shares of the company'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 value of $855,562.50. Following the sale, the chief financial officer now directly owns 83,365 shares in the company, valued at approximately $4,876,852.50. This represents a 14.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William M. Rusty Rush sold 117,500 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were 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 in the company, valued at $11,142,372.92. This trade represents a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 176,000 shares of company stock valued at $11,167,173. 12.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Stephens raised their price objective on Rush Enterprises from $66.00 to $69.00 and gave the stock an "overweight" rating in a research note 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.