Private Management Group Inc. Has $17.68 Million Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Private Management Group Inc. lowered its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 351,488 shares of the company’s stock after selling 4,974 shares during the quarter. Private Management Group Inc.’s holdings in Rush Enterprises were worth $17,680,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Gladius Capital Management LP grew its position in Rush Enterprises by 891.2% during the third quarter. Gladius Capital Management LP now owns 1,120 shares of the company’s stock worth $46,000 after buying an additional 1,007 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Rush Enterprises by 50.0% during the third quarter. Nisa Investment Advisors LLC now owns 2,290 shares of the company’s stock worth $94,000 after purchasing an additional 763 shares during the last quarter. Essex Savings Bank bought a new stake in Rush Enterprises during the fourth quarter worth $204,000. Tectonic Advisors LLC bought a new stake in Rush Enterprises during the fourth quarter worth $207,000. Finally, Cornerstone Investment Partners LLC bought a new stake in Rush Enterprises during the fourth quarter worth $211,000. Institutional investors and hedge funds own 84.43% of the company’s stock.

Rush Enterprises Price Performance

Shares of RUSHA traded up $0.94 during trading hours on Tuesday, reaching $49.23. The stock had a trading volume of 250,385 shares, compared to its average volume of 376,300. Rush Enterprises, Inc. has a 12 month low of $33.37 and a 12 month high of $53.78. The stock has a market capitalization of $3.83 billion, a PE ratio of 11.89, a PEG ratio of 1.13 and a beta of 1.02. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 1.35. The company’s 50-day moving average is $49.42 and its two-hundred day moving average is $44.81.

Rush Enterprises (NASDAQ:RUSHA) last announced its earnings results on Tuesday, February 13th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.11. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.88 billion. Rush Enterprises had a return on equity of 18.44% and a net margin of 4.38%. Rush Enterprises’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $1.16 EPS. Research analysts expect that Rush Enterprises, Inc. will post 2.88 EPS for the current year.

Rush Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Tuesday, February 27th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Monday, February 26th. Rush Enterprises’s dividend payout ratio is currently 16.43%.

Insider Buying and Selling

In related news, SVP Jody Pollard sold 11,250 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $48.28, for a total transaction of $543,150.00. Following the completion of the transaction, the senior vice president now directly owns 2,777 shares of the company’s stock, valued at approximately $134,073.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 17.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RUSHA has been the subject of several recent analyst reports. Stephens restated an “overweight” rating and set a $58.00 target price on shares of Rush Enterprises in a research note on Wednesday, February 14th. StockNews.com cut Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Monday, January 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.