Algert Global LLC Purchases 118,041 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

Algert Global LLC increased its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 284.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 159,610 shares of the company’s stock after purchasing an additional 118,041 shares during the period. Algert Global LLC’s holdings in Rush Enterprises were worth $8,432,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of RUSHA. Quarry LP bought a new stake in shares of Rush Enterprises during the second quarter valued at approximately $36,000. Blue Trust Inc. increased its position in shares of Rush Enterprises by 266.1% during the third quarter. Blue Trust Inc. now owns 703 shares of the company’s stock valued at $37,000 after purchasing an additional 511 shares during the period. Hexagon Capital Partners LLC increased its position in shares of Rush Enterprises by 41.3% during the second quarter. Hexagon Capital Partners LLC now owns 982 shares of the company’s stock valued at $41,000 after purchasing an additional 287 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of Rush Enterprises during the second quarter valued at approximately $41,000. Finally, GAMMA Investing LLC increased its position in shares of Rush Enterprises by 147.5% during the third quarter. GAMMA Investing LLC now owns 787 shares of the company’s stock valued at $42,000 after purchasing an additional 469 shares during the period. 84.43% of the stock is currently owned by institutional investors.

Rush Enterprises Price Performance

Shares of RUSHA stock opened at $60.00 on Friday. The stock’s fifty day simple moving average is $55.11 and its 200 day simple moving average is $49.80. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 0.28. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 15.92, a P/E/G ratio of 2.24 and a beta of 0.99. Rush Enterprises, Inc. has a one year low of $38.43 and a one year high of $65.15.

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

Rush Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 1.20%. The ex-dividend date of this dividend is Tuesday, November 12th. Rush Enterprises’s dividend payout ratio is currently 19.10%.

Insiders Place Their Bets

In other news, CEO William M. Rusty Rush sold 117,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was 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 owns 174,154 shares of the company’s stock, valued at $11,142,372.92. This represents a 40.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Steven L. Keller sold 43,875 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $63.68, for a total value of $2,793,960.00. Following the transaction, the chief financial officer now directly owns 83,365 shares in the company, valued at $5,308,683.20. This trade represents a 34.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 176,000 shares of company stock valued at $11,167,173. 12.53% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Stephens boosted their price target on Rush Enterprises from $66.00 to $69.00 and gave the company 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.