Rush Enterprises, Inc. $RUSHA Stake Boosted by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 375.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 25,850 shares of the company’s stock after purchasing an additional 20,415 shares during the quarter. Ritholtz Wealth Management’s holdings in Rush Enterprises were worth $1,709,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CIBC Private Wealth Group LLC increased its position in shares of Rush Enterprises by 495.4% in the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after acquiring an additional 431 shares in the last quarter. Private Trust Co. NA boosted its stake in Rush Enterprises by 211.4% in the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $29,000 after purchasing an additional 370 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in Rush Enterprises in the 3rd quarter worth approximately $34,000. Allworth Financial LP grew its position in Rush Enterprises by 5,790.9% during the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after purchasing an additional 637 shares in the last quarter. Finally, First Horizon Corp purchased a new position in Rush Enterprises during the 4th quarter worth approximately $37,000. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Rush Enterprises news, Director Michael Mcroberts sold 8,000 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $72.23, for a total value of $577,840.00. Following the completion of the sale, the director owned 16,229 shares of the company’s stock, valued at $1,172,220.67. The trade was a 33.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Rush Enterprises in a report on Thursday, June 18th. Wolfe Research started coverage on Rush Enterprises in a report on Monday, April 27th. They set an “outperform” rating and a $88.00 price target on the stock. Wall Street Zen lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. Zacks Research lowered Rush Enterprises from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Finally, UBS Group lifted their target price on Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $83.67.

Rush Enterprises Trading Down 0.6%

NASDAQ:RUSHA opened at $72.78 on Friday. The stock’s 50 day moving average price is $70.69 and its 200 day moving average price is $66.47. Rush Enterprises, Inc. has a 52 week low of $45.67 and a 52 week high of $76.99. The company has a market capitalization of $5.66 billion, a P/E ratio of 21.99, a P/E/G ratio of 1.54 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.73 billion. On average, research analysts forecast that Rush Enterprises, Inc. will post 3.79 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 12th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.0%. The ex-dividend date was Tuesday, May 12th. Rush Enterprises’s dividend payout ratio (DPR) is 22.96%.

Rush Enterprises Profile

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.