EULAV Asset Management Acquires 69,600 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

EULAV Asset Management boosted its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 143.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,200 shares of the company’s stock after purchasing an additional 69,600 shares during the period. EULAV Asset Management’s holdings in Rush Enterprises were worth $6,245,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. UniSuper Management Pty Ltd purchased a new stake in shares of Rush Enterprises during the first quarter valued at approximately $612,000. Edgestream Partners L.P. bought a new stake in Rush Enterprises in the 1st quarter worth $898,000. Vaughan Nelson Investment Management L.P. increased its position in shares of Rush Enterprises by 6.4% in 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 acquiring an additional 63,413 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in shares of Rush Enterprises by 30.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 73,541 shares of the company’s stock valued at $3,936,000 after acquiring an additional 17,209 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Rush Enterprises by 499.1% during the second quarter. Harbor Capital Advisors Inc. now owns 14,138 shares of the company’s stock valued at $592,000 after acquiring an additional 11,778 shares during the last quarter. 84.43% of the stock is owned by institutional investors.

Rush Enterprises Price Performance

RUSHA opened at $58.94 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.40. The stock has a market capitalization of $4.66 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 2.29 and a beta of 0.99. The stock’s 50 day moving average price is $54.51 and its 200-day moving average price is $49.53. Rush Enterprises, Inc. has a 52-week low of $38.10 and a 52-week high of $65.15.

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

Rush Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Tuesday, November 12th. Rush Enterprises’s payout ratio is currently 19.10%.

Insider Buying and Selling at Rush Enterprises

In related news, CFO Steven L. Keller sold 43,875 shares of the business’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 sale, the chief financial officer now owns 83,365 shares of the company’s stock, valued at $5,308,683.20. The trade was a 34.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William M. Rusty Rush sold 117,500 shares of the firm’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 transaction of $7,517,650.00. Following the transaction, the chief executive officer now directly owns 174,154 shares of the company’s stock, valued at $11,142,372.92. This represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 216,000 shares of company stock valued at $13,319,573. 12.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.