Denali Advisors LLC Boosts Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Denali Advisors LLC increased its stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 42.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 148,785 shares of the company’s stock after buying an additional 44,700 shares during the period. Rush Enterprises comprises about 1.7% of Denali Advisors LLC’s holdings, making the stock its 15th biggest position. Denali Advisors LLC’s holdings in Rush Enterprises were worth $6,230,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the business. Edgestream Partners L.P. increased its stake in shares of Rush Enterprises by 678.7% in the second quarter. Edgestream Partners L.P. now owns 130,602 shares of the company’s stock worth $5,468,000 after purchasing an additional 113,831 shares in the last quarter. Wambolt & Associates LLC increased its stake in shares of Rush Enterprises by 6.8% in the second quarter. Wambolt & Associates LLC now owns 24,412 shares of the company’s stock worth $1,006,000 after purchasing an additional 1,557 shares in the last quarter. Beverly Hills Private Wealth LLC increased its stake in shares of Rush Enterprises by 35.3% in the second quarter. Beverly Hills Private Wealth LLC now owns 22,533 shares of the company’s stock worth $943,000 after purchasing an additional 5,875 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Rush Enterprises in the second quarter worth about $41,000. Finally, Great Lakes Advisors LLC increased its stake in shares of Rush Enterprises by 14.4% in the second quarter. Great Lakes Advisors LLC now owns 83,407 shares of the company’s stock worth $3,492,000 after purchasing an additional 10,500 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Rush Enterprises Price Performance

RUSHA stock opened at $50.68 on Tuesday. The firm has a 50 day moving average of $49.87 and a 200-day moving average of $47.70. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.24. Rush Enterprises, Inc. has a 12 month low of $34.68 and a 12 month high of $56.64. The firm has a market capitalization of $3.98 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 1.84 and a beta of 1.01.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.20. Rush Enterprises had a net margin of 3.90% and a return on equity of 15.85%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the business earned $1.17 earnings per share. Rush Enterprises’s revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that Rush Enterprises, Inc. will post 3.44 earnings per share for the current fiscal year.

Rush Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This is a positive change from Rush Enterprises’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.42%. Rush Enterprises’s payout ratio is presently 18.18%.

Insider Buying and Selling at Rush Enterprises

In other news, COO Michael Mcroberts sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $50.72, for a total value of $634,000.00. Following the completion of the sale, the chief operating officer now directly owns 15,220 shares in the company, valued at approximately $771,958.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Michael Mcroberts sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $50.72, for a total value of $634,000.00. Following the completion of the sale, the chief operating officer now directly owns 15,220 shares in the company, valued at approximately $771,958.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael L. Goldstone sold 7,875 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $51.25, for a total transaction of $403,593.75. Following the completion of the sale, the senior vice president now owns 12,238 shares of the company’s stock, valued at $627,197.50. The disclosure for this sale can be found here. Insiders sold a total of 64,875 shares of company stock worth $3,422,554 over the last three months. 12.53% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Stephens started coverage on shares of Rush Enterprises in a research report on Monday, July 8th. They issued an “overweight” rating for the company.

Rush Enterprises Company 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.