AlphaQuest LLC Boosts Stake in Rush Enterprises, Inc. $RUSHA

AlphaQuest LLC increased its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 4,252.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,071 shares of the company’s stock after purchasing an additional 23,518 shares during the quarter. AlphaQuest LLC’s holdings in Rush Enterprises were worth $1,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Jennison Associates LLC lifted its stake in Rush Enterprises by 73.3% during the 1st quarter. Jennison Associates LLC now owns 882,911 shares of the company’s stock valued at $47,156,000 after acquiring an additional 373,531 shares during the period. Allianz Asset Management GmbH lifted its position in Rush Enterprises by 303.4% during the second quarter. Allianz Asset Management GmbH now owns 352,922 shares of the company’s stock valued at $18,179,000 after purchasing an additional 265,432 shares during the period. Nuveen LLC purchased a new stake in Rush Enterprises in the first quarter worth approximately $9,667,000. Jane Street Group LLC grew its position in Rush Enterprises by 605.6% in the 1st quarter. Jane Street Group LLC now owns 153,189 shares of the company’s stock worth $8,182,000 after purchasing an additional 131,480 shares during the period. Finally, American Century Companies Inc. grew its position in Rush Enterprises by 423.4% in the 1st quarter. American Century Companies Inc. now owns 132,259 shares of the company’s stock worth $7,064,000 after purchasing an additional 106,991 shares during the period. 84.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Jason Wilder sold 4,980 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $55.55, for a total value of $276,639.00. Following the transaction, the chief operating officer owned 79,692 shares of the company’s stock, valued at approximately $4,426,890.60. The trade was a 5.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael L. Goldstone sold 4,500 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $57.25, for a total transaction of $257,625.00. Following the transaction, the senior vice president owned 12,510 shares of the company’s stock, valued at approximately $716,197.50. This represents a 26.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,480 shares of company stock worth $862,104 over the last quarter. Insiders own 12.28% of the company’s stock.

Rush Enterprises Trading Down 0.3%

Shares of Rush Enterprises stock opened at $50.61 on Friday. Rush Enterprises, Inc. has a fifty-two week low of $47.06 and a fifty-two week high of $65.43. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 1.39. The company has a market capitalization of $3.94 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.45 and a beta of 0.89. The company has a fifty day moving average of $54.93 and a 200 day moving average of $53.01.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Thursday, May 20th. The company reported $0.79 EPS for the quarter. The business had revenue of $1.23 billion for the quarter. Rush Enterprises had a return on equity of 13.29% and a net margin of 3.73%. On average, sell-side analysts anticipate that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.19 per share. This is an increase from Rush Enterprises’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.76 dividend on an annualized basis and a yield of 1.5%. Rush Enterprises’s payout ratio is 21.65%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RUSHA. Wall Street Zen cut Rush Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Rush Enterprises in a report on Saturday. Finally, Stephens restated an “overweight” rating on shares of Rush Enterprises in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Rush Enterprises has an average rating of “Buy” and an average target price of $61.00.

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.