GAMMA Investing LLC Grows Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

GAMMA Investing LLC boosted its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 6,812.2% in the first quarter, Holdings Channel.com reports. The firm owned 67,670 shares of the company’s stock after acquiring an additional 66,691 shares during the quarter. GAMMA Investing LLC’s holdings in Rush Enterprises were worth $3,614,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its stake in Rush Enterprises by 475.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 851 shares of the company’s stock worth $46,000 after buying an additional 703 shares during the period. Tower Research Capital LLC TRC grew its stake in Rush Enterprises by 121.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the company’s stock worth $62,000 after buying an additional 616 shares during the period. PNC Financial Services Group Inc. grew its stake in Rush Enterprises by 71.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the company’s stock worth $79,000 after buying an additional 596 shares during the period. Sterling Capital Management LLC grew its stake in Rush Enterprises by 833.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,961 shares of the company’s stock worth $107,000 after buying an additional 1,751 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in Rush Enterprises during the fourth quarter worth approximately $179,000. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Stephens reduced their target price on shares of Rush Enterprises from $63.00 to $61.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd.

Insider Activity at Rush Enterprises

In related news, SVP Michael L. Goldstone sold 4,500 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $52.10, for a total value of $234,450.00. Following the sale, the senior vice president now directly owns 12,510 shares of the company’s stock, valued at $651,771. This represents a 26.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jason Wilder sold 483 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $56.39, for a total transaction of $27,236.37. Following the sale, the chief operating officer now directly owns 85,420 shares in the company, valued at $4,816,833.80. This trade represents a 0.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,731 shares of company stock valued at $303,634 over the last ninety days. Corporate insiders own 12.28% of the company’s stock.

Rush Enterprises Trading Down 1.6%

NASDAQ RUSHA opened at $51.27 on Thursday. The company’s fifty day simple moving average is $50.65 and its 200-day simple moving average is $55.24. Rush Enterprises, Inc. has a 52 week low of $40.99 and a 52 week high of $65.43. The company has a current ratio of 1.45, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23. The stock has a market cap of $3.99 billion, a P/E ratio of 13.75, a PEG ratio of 1.04 and a beta of 0.89.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Rush Enterprises had a net margin of 3.90% and a return on equity of 14.76%. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Equities research analysts predict that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be issued a $0.18 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.72 annualized dividend and a yield of 1.40%. Rush Enterprises’s dividend payout ratio is presently 20.11%.

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.