Costello Asset Management INC Increases Stock Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Costello Asset Management INC grew its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 3,793.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,833 shares of the company’s stock after purchasing an additional 41,733 shares during the period. Rush Enterprises makes up approximately 1.6% of Costello Asset Management INC’s portfolio, making the stock its 22nd biggest holding. Costello Asset Management INC’s holdings in Rush Enterprises were worth $2,347,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Blue Trust Inc. boosted its stake in shares of Rush Enterprises by 266.1% in the third quarter. Blue Trust Inc. now owns 703 shares of the company’s stock valued at $37,000 after buying an additional 511 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Rush Enterprises by 147.5% during the 3rd quarter. GAMMA Investing LLC now owns 787 shares of the company’s stock worth $42,000 after purchasing an additional 469 shares in the last quarter. Quarry LP acquired a new position in shares of Rush Enterprises during the 2nd quarter worth $36,000. Future Financial Wealth Managment LLC purchased a new position in shares of Rush Enterprises in the 3rd quarter valued at about $53,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Rush Enterprises in the third quarter valued at about $64,000. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Analyst Ratings Changes

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

Rush Enterprises Stock Performance

NASDAQ RUSHA opened at $60.75 on Friday. The business has a 50 day moving average price of $58.66 and a 200 day moving average price of $54.95. 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 company has a market capitalization of $4.80 billion, a P/E ratio of 16.11, a PEG ratio of 2.39 and a beta of 1.02. Rush Enterprises, Inc. has a 1-year low of $40.99 and a 1-year high of $65.15.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.02. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company posted $0.96 EPS. The business’s revenue was down 4.3% on a year-over-year basis. Sell-side analysts expect that Rush Enterprises, Inc. will post 3.66 EPS for the current fiscal year.

Insider Buying and Selling at Rush Enterprises

In other news, CFO Steven L. Keller sold 43,875 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $63.68, for a total value of $2,793,960.00. Following the sale, the chief financial officer now directly owns 83,365 shares in the company, valued at $5,308,683.20. This represents a 34.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William M. Rusty Rush sold 117,500 shares of Rush Enterprises stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $63.98, for a total value of $7,517,650.00. Following the sale, the chief executive officer now owns 174,154 shares of the company’s stock, valued at approximately $11,142,372.92. This represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 176,000 shares of company stock valued at $11,167,173 over the last quarter. Corporate insiders own 12.53% of the company’s stock.

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.