Denali Advisors LLC Cuts Stock Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Denali Advisors LLC lessened its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 0.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,085 shares of the company’s stock after selling 474 shares during the period. Rush Enterprises makes up 1.6% of Denali Advisors LLC’s portfolio, making the stock its 5th biggest position. Denali Advisors LLC owned approximately 0.13% of Rush Enterprises worth $5,571,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. UBS Group AG lifted its stake in Rush Enterprises by 47.6% in the 3rd quarter. UBS Group AG now owns 55,942 shares of the company’s stock valued at $2,284,000 after acquiring an additional 18,050 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Rush Enterprises by 33.2% during the 3rd quarter. Invesco Ltd. now owns 150,044 shares of the company’s stock worth $6,126,000 after acquiring an additional 37,393 shares during the last quarter. Mariner LLC increased its holdings in shares of Rush Enterprises by 50.7% during the 3rd quarter. Mariner LLC now owns 16,668 shares of the company’s stock worth $681,000 after acquiring an additional 5,611 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Rush Enterprises by 49.0% during the 3rd quarter. Northern Trust Corp now owns 770,756 shares of the company’s stock worth $31,470,000 after acquiring an additional 253,570 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of Rush Enterprises by 49.4% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 12,410 shares of the company’s stock worth $507,000 after acquiring an additional 4,101 shares during the last quarter. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Trading Up 0.3 %

NASDAQ RUSHA traded up $0.14 during trading hours on Wednesday, hitting $41.83. 113,769 shares of the company’s stock were exchanged, compared to its average volume of 349,725. The stock has a 50-day simple moving average of $44.09 and a 200 day simple moving average of $46.57. Rush Enterprises, Inc. has a 1-year low of $34.68 and a 1-year high of $53.78. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 1.92 and a beta of 1.02. The company has a current ratio of 1.43, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.08. The business had revenue of $1.87 billion for the quarter. Rush Enterprises had a return on equity of 17.16% and a net margin of 4.16%. During the same quarter in the previous year, the company posted $1.07 EPS. On average, equities analysts forecast that Rush Enterprises, Inc. will post 2.98 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 9th were issued a $0.17 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.63%. Rush Enterprises’s dividend payout ratio is presently 17.19%.

Insider Activity

In other news, SVP Jason Wilder sold 11,250 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $46.23, for a total value of $520,087.50. Following the transaction, the senior vice president now owns 534 shares in the company, valued at $24,686.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.53% of the company’s stock.

Analysts Set New Price Targets

Separately, Stephens reiterated an “overweight” rating and set a $60.00 target price on shares of Rush Enterprises in a research report on Wednesday, April 24th.

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.