Private Management Group Inc. Lowers Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Private Management Group Inc. decreased its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 7.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 319,120 shares of the company’s stock after selling 24,746 shares during the quarter. Private Management Group Inc. owned about 0.41% of Rush Enterprises worth $16,859,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Cooke & Bieler LP raised its stake in Rush Enterprises by 10.1% during the second quarter. Cooke & Bieler LP now owns 1,092,709 shares of the company’s stock valued at $45,752,000 after purchasing an additional 100,318 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Rush Enterprises by 6.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,047,905 shares of the company’s stock valued at $43,875,000 after purchasing an additional 63,413 shares in the last quarter. William Blair Investment Management LLC increased its position in Rush Enterprises by 239.1% during the first quarter. William Blair Investment Management LLC now owns 794,375 shares of the company’s stock valued at $42,515,000 after acquiring an additional 560,138 shares during the last quarter. Global Alpha Capital Management Ltd. increased its position in Rush Enterprises by 11.5% during the first quarter. Global Alpha Capital Management Ltd. now owns 691,390 shares of the company’s stock valued at $37,003,000 after acquiring an additional 71,402 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in Rush Enterprises by 2.2% during the first quarter. Clearbridge Investments LLC now owns 427,553 shares of the company’s stock valued at $22,883,000 after acquiring an additional 9,397 shares during the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Rush Enterprises Stock Performance

Shares of Rush Enterprises stock traded up $0.88 during midday trading on Friday, hitting $57.46. The company had a trading volume of 599,934 shares, compared to its average volume of 310,229. Rush Enterprises, Inc. has a 12-month low of $36.40 and a 12-month high of $60.55. The company has a fifty day simple moving average of $51.94 and a 200 day simple moving average of $48.23. 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 market cap of $4.53 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 2.14 and a beta of 0.99.

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

Rush Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.72 annualized dividend and a yield of 1.25%. Rush Enterprises’s dividend payout ratio (DPR) is presently 19.10%.

Analyst Ratings Changes

Separately, Stephens boosted their price objective on shares of Rush Enterprises from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday.

Insiders Place Their Bets

In other news, COO Michael Mcroberts sold 12,500 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $50.72, for a total transaction of $634,000.00. Following the transaction, the chief operating officer now owns 15,220 shares of the company’s stock, valued at approximately $771,958.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Rush Enterprises news, COO Michael Mcroberts sold 12,500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $50.72, for a total value of $634,000.00. Following the transaction, the chief operating officer now owns 15,220 shares of the company’s stock, valued at $771,958.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael L. Goldstone sold 7,875 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $51.25, for a total transaction of $403,593.75. Following the completion of the transaction, the senior vice president now directly owns 12,238 shares in the company, valued at $627,197.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,875 shares of company stock valued at $3,422,554 in the last 90 days. 12.53% of the stock is owned by insiders.

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.