Oliver Luxxe Assets LLC Purchases Shares of 28,603 Rush Enterprises, Inc. (NASDAQ:RUSHA)

Oliver Luxxe Assets LLC acquired a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 28,603 shares of the company’s stock, valued at approximately $1,567,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP bought a new position in Rush Enterprises in the second quarter worth $36,000. Blue Trust Inc. raised its stake in shares of Rush Enterprises by 266.1% in the 3rd 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. Strategic Financial Concepts LLC bought a new position in shares of Rush Enterprises during the 2nd quarter worth about $41,000. GAMMA Investing LLC increased its stake in Rush Enterprises by 147.5% in the third quarter. GAMMA Investing LLC now owns 787 shares of the company’s stock valued at $42,000 after acquiring an additional 469 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new stake in Rush Enterprises in the third quarter valued at about $53,000. 84.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Stephens raised their price target on shares of 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 Price Performance

RUSHA stock traded down $0.04 during trading on Monday, hitting $55.47. The company had a trading volume of 136,593 shares, compared to its average volume of 201,604. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average price of $59.11 and a two-hundred day moving average price of $52.84. Rush Enterprises, Inc. has a fifty-two week low of $40.99 and a fifty-two week high of $65.15. The company has a market cap of $4.38 billion, a P/E ratio of 14.71, a P/E/G ratio of 2.14 and a beta of 1.02.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $1.84 billion. During the same quarter in the prior year, the firm earned $0.96 EPS. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities research analysts expect that Rush Enterprises, Inc. will post 3.64 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Tuesday, November 12th. Rush Enterprises’s dividend payout ratio (DPR) is currently 19.10%.

Insider Transactions at Rush Enterprises

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

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.