Short Interest in Rush Enterprises, Inc. (NASDAQ:RUSHA) Decreases By 16.5%

Rush Enterprises, Inc. (NASDAQ:RUSHAGet Free Report) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 2,830,000 shares, a decline of 16.5% from the December 15th total of 3,390,000 shares. Based on an average daily volume of 367,200 shares, the short-interest ratio is presently 7.7 days.

Insider Transactions at Rush Enterprises

In related news, CFO Steven L. Keller sold 14,625 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.50, for a total transaction of $855,562.50. Following the completion of the sale, the chief financial officer now directly owns 83,365 shares in the company, valued at approximately $4,876,852.50. This trade represents a 14.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William M. Rusty Rush sold 117,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 174,154 shares in the company, valued at approximately $11,142,372.92. This trade represents a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 176,000 shares of company stock worth $11,167,173 in the last ninety days. Insiders own 12.53% of the company’s stock.

Institutional Investors Weigh In On Rush Enterprises

A number of hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC boosted its holdings in shares of Rush Enterprises by 94.5% in the second quarter. Commonwealth Equity Services LLC now owns 8,401 shares of the company’s stock worth $352,000 after buying an additional 4,081 shares during the period. Hsbc Holdings PLC boosted its position in shares of Rush Enterprises by 53.4% in the second quarter. Hsbc Holdings PLC now owns 11,222 shares of the company’s stock worth $473,000 after buying an additional 3,905 shares during the period. Inspire Investing LLC raised its position in Rush Enterprises by 24.8% during the second quarter. Inspire Investing LLC now owns 8,371 shares of the company’s stock valued at $350,000 after buying an additional 1,662 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Rush Enterprises in the 2nd quarter valued at about $121,000. Finally, Bridges Investment Management Inc. acquired a new stake in Rush Enterprises during the second quarter valued at $478,000. 84.43% of the stock is currently owned by institutional investors.

Rush Enterprises Trading Up 0.4 %

Rush Enterprises stock opened at $60.10 on Friday. Rush Enterprises has a 52 week low of $40.99 and a 52 week high of $65.15. The stock has a market cap of $4.75 billion, a PE ratio of 15.94, a P/E/G ratio of 2.18 and a beta of 1.02. The stock has a 50-day moving average price of $58.77 and a 200 day moving average price of $53.58. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23.

Rush Enterprises (NASDAQ:RUSHAGet Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.02. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS. Equities research analysts predict that Rush Enterprises will post 3.66 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.20%. Rush Enterprises’s payout ratio is currently 19.10%.

Analyst Upgrades and Downgrades

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

Read Our Latest Research Report on Rush Enterprises

About Rush Enterprises

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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.

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