Tensile Capital Management LP Makes New Investment in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Tensile Capital Management LP bought a new position in Rush Enterprises, Inc. (NASDAQ:RUSHA) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 34,354 shares of the company’s stock, valued at approximately $1,815,000. Rush Enterprises comprises approximately 0.2% of Tensile Capital Management LP’s portfolio, making the stock its 17th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of RUSHA. Quarry LP acquired a new stake in shares of Rush Enterprises in the 2nd quarter worth $36,000. Blue Trust Inc. grew its holdings in shares of Rush Enterprises by 266.1% during the 3rd quarter. Blue Trust Inc. now owns 703 shares of the company’s stock worth $37,000 after purchasing an additional 511 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of Rush Enterprises during the 2nd quarter worth $41,000. Hexagon Capital Partners LLC grew its holdings in shares of Rush Enterprises by 41.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 982 shares of the company’s stock worth $41,000 after purchasing an additional 287 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Rush Enterprises by 147.5% during the 3rd quarter. GAMMA Investing LLC now owns 787 shares of the company’s stock worth $42,000 after purchasing an additional 469 shares during the period. 84.43% of the stock is owned by institutional investors and hedge funds.

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA opened at $61.71 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.40. Rush Enterprises, Inc. has a fifty-two week low of $40.12 and a fifty-two week high of $65.15. The firm has a market capitalization of $4.88 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 2.32 and a beta of 1.00. The stock’s 50-day simple moving average is $56.66 and its 200-day simple moving average is $50.69.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.02. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.84 billion. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $0.96 EPS. As a group, equities research analysts forecast that Rush Enterprises, Inc. will post 3.45 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.17%. The ex-dividend date is Tuesday, November 12th. Rush Enterprises’s dividend payout ratio (DPR) is 19.10%.

Insiders Place Their Bets

In other news, CFO Steven L. Keller sold 43,875 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $63.68, for a total value of $2,793,960.00. Following the transaction, the chief financial officer now owns 83,365 shares of the company’s stock, valued at approximately $5,308,683.20. The trade was a 34.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William M. Rusty Rush sold 117,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $63.98, for a total value of $7,517,650.00. Following the completion of the transaction, the chief executive officer now directly owns 174,154 shares in the company, valued at approximately $11,142,372.92. The trade was a 40.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 176,000 shares of company stock valued at $11,167,173 over the last quarter. Company insiders own 12.53% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stephens raised their target price on Rush Enterprises from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, November 1st.

Rush Enterprises Profile

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.