Rush Enterprises (NASDAQ:RUSHA) Sees Large Volume Increase – Here’s Why

Rush Enterprises, Inc. (NASDAQ:RUSHA) saw an uptick in trading volume on Monday . 253,572 shares traded hands during trading, a decline of 4% from the previous session’s volume of 265,143 shares.The stock last traded at $59.24 and had previously closed at $60.75.

Wall Street Analyst Weigh In

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

Rush Enterprises Trading Down 2.1 %

The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average of $58.66 and a 200 day moving average of $55.02. The stock has a market cap of $4.70 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 2.43 and a beta of 1.02.

Insider Buying and Selling at Rush Enterprises

In related news, CFO Steven L. Keller sold 43,875 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $63.68, for a total transaction of $2,793,960.00. Following the completion of the sale, the chief financial officer now directly owns 83,365 shares in the company, valued at approximately $5,308,683.20. This trade represents a 34.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William M. Rusty Rush sold 117,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $63.98, for a total value of $7,517,650.00. Following the sale, the chief executive officer now directly owns 174,154 shares of the company’s stock, valued at approximately $11,142,372.92. This trade represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. 12.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rush Enterprises

A number of hedge funds have recently bought and sold shares of the stock. FMR LLC grew its holdings in shares of Rush Enterprises by 34.8% during the third quarter. FMR LLC now owns 5,174,262 shares of the company’s stock worth $273,356,000 after purchasing an additional 1,336,528 shares during the last quarter. State Street Corp boosted its stake in shares of Rush Enterprises by 0.7% in the third quarter. State Street Corp now owns 2,349,597 shares of the company’s stock valued at $124,129,000 after buying an additional 16,082 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Rush Enterprises by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,616,048 shares of the company’s stock worth $85,390,000 after purchasing an additional 16,803 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in Rush Enterprises by 3.1% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,222,719 shares of the company’s stock valued at $66,993,000 after buying an additional 36,326 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. boosted its position in Rush Enterprises by 1.9% during the third quarter. Global Alpha Capital Management Ltd. now owns 773,990 shares of the company’s stock worth $40,890,000 after purchasing an additional 14,600 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

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.