Insider Selling: Rush Enterprises (NASDAQ:RUSHA) Director Sells 6,500 Shares

Key Points

  • Director Michael Mcroberts sold 6,500 Rush Enterprises shares for approximately $529,360, reducing his direct ownership by 28.6% to 16,229 shares.
  • Rush Enterprises recently beat quarterly expectations, reporting $0.91 in EPS versus the $0.86 consensus and $1.90 billion in revenue. Analysts maintain a “Moderate Buy” consensus with an average price target of $87.
  • The company announced a 3-for-2 stock split effective August 11 and a quarterly dividend of $0.14 per share, representing a 0.7% annualized yield.

Rush Enterprises, Inc. (NASDAQ:RUSHA - Get Free Report) Director Michael Mcroberts sold 6,500 shares of the firm's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $81.44, for a total transaction of $529,360.00. Following the completion of the transaction, the director directly owned 16,229 shares in the company, valued at $1,321,689.76. This trade represents a 28.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Rush Enterprises Trading Down 1.2%

NASDAQ:RUSHA opened at $81.80 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.45 and a quick ratio of 0.38. Rush Enterprises, Inc. has a one year low of $45.67 and a one year high of $83.61. The company has a market cap of $6.36 billion, a PE ratio of 24.64, a PEG ratio of 1.83 and a beta of 0.87. The firm has a 50-day moving average of $73.26 and a 200-day moving average of $70.43.

Rush Enterprises shares are set to split on the morning of Tuesday, August 11th. The 3-2 split was recently announced. The newly created shares will be distributed to shareholders after the market closes on Monday, August 10th.




Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.89 billion. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. As a group, equities research analysts expect that Rush Enterprises, Inc. will post 3.75 EPS for the current fiscal year.

Rush Enterprises Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Wednesday, September 9th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 9th. Rush Enterprises's dividend payout ratio (DPR) is currently 22.89%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RUSHA. Root Financial Partners LLC increased its position in shares of Rush Enterprises by 75.4% during the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company's stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Rush Enterprises by 495.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company's stock worth $28,000 after buying an additional 431 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of 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 buying an additional 370 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in Rush Enterprises during the third quarter valued at about $34,000. Finally, Allworth Financial LP grew its position in Rush Enterprises by 5,790.9% during the third quarter. Allworth Financial LP now owns 648 shares of the company's stock valued at $35,000 after buying an additional 637 shares during the period. Institutional investors own 84.43% of the company's stock.

Wall Street Analyst Weigh In

RUSHA has been the subject of several recent research reports. Wolfe Research initiated coverage on Rush Enterprises in a report on Monday, April 27th. They set an "outperform" rating and a $88.00 price target for the company. Weiss Ratings raised shares of Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 23rd. UBS Group upped their target price on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Stephens increased their target price on shares of Rush Enterprises from $90.00 to $95.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Finally, Zacks Research raised shares of Rush Enterprises from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $87.00.

Get Our Latest Research Report on Rush Enterprises

About Rush Enterprises

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Rush Enterprises (NASDAQ:RUSHA)

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