Denali Advisors LLC grew its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 157.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,900 shares of the company’s stock after purchasing an additional 33,600 shares during the quarter. Denali Advisors LLC’s holdings in Rush Enterprises were worth $2,118,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. FNY Investment Advisers LLC boosted its stake in shares of Rush Enterprises by 61.5% during the second quarter. FNY Investment Advisers LLC now owns 1,050 shares of the company’s stock valued at $38,000 after purchasing an additional 400 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new position in shares of Rush Enterprises in the second quarter worth approximately $58,000. M&T Bank Corp acquired a new position in shares of Rush Enterprises in the second quarter worth approximately $204,000. Commonwealth Bank of Australia lifted its stake in shares of Rush Enterprises by 50.0% in the second quarter. Commonwealth Bank of Australia now owns 7,800 shares of the company’s stock worth $284,000 after acquiring an additional 2,600 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Rush Enterprises in the second quarter worth approximately $330,000. 74.34% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on RUSHA. Zacks Investment Research lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. ValuEngine raised Rush Enterprises from a “strong sell” rating to a “sell” rating in a research note on Friday, July 26th. Finally, BidaskClub lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Rush Enterprises has an average rating of “Hold” and a consensus target price of $43.00.
RUSHA stock traded up $0.56 during mid-day trading on Wednesday, reaching $36.70. The company’s stock had a trading volume of 126,900 shares, compared to its average volume of 173,314. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 9.53, a price-to-earnings-growth ratio of 0.59 and a beta of 1.33. The business’s 50 day moving average price is $37.95 and its 200 day moving average price is $38.38. The company has a current ratio of 1.11, a quick ratio of 0.22 and a debt-to-equity ratio of 0.50. Rush Enterprises, Inc. has a 12 month low of $31.53 and a 12 month high of $45.99.
Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Wednesday, July 24th. The company reported $1.10 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.10. The business had revenue of $1.54 billion during the quarter. Rush Enterprises had a return on equity of 15.38% and a net margin of 2.88%. As a group, equities analysts expect that Rush Enterprises, Inc. will post 4 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $0.13 dividend. This is an increase from Rush Enterprises’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Thursday, August 8th. Rush Enterprises’s payout ratio is presently 13.51%.
About Rush Enterprises
Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States. 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, Mitsubishi Fuso, IC Bus, or Blue Bird; provides new and used commercial vehicles, and aftermarket parts, as well as service and repair, financing, and leasing and rental services; and offers property and casualty insurance, including collision and liability insurance on commercial vehicles, cargo insurance, and credit life insurance to its commercial vehicle customers.
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