Oliver Luxxe Assets LLC Invests $1.57 Million in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Oliver Luxxe Assets LLC bought a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 28,603 shares of the company’s stock, valued at approximately $1,567,000.

A number of other large investors also recently modified their holdings of the company. Blue Trust Inc. raised 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 worth $37,000 after acquiring an additional 511 shares during the last quarter. 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 worth $42,000 after buying an additional 469 shares during the period. Quarry LP bought a new stake in Rush Enterprises during the second quarter valued at $36,000. Future Financial Wealth Managment LLC acquired a new stake in Rush Enterprises during the 3rd quarter worth about $53,000. Finally, Costello Asset Management INC acquired a new position in shares of Rush Enterprises in the 3rd quarter valued at about $58,000. 84.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rush Enterprises

In related news, CEO William M. Rusty Rush sold 117,500 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Steven L. Keller sold 43,875 shares of Rush Enterprises stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $63.68, for a total transaction 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 represents a 34.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 176,000 shares of company stock worth $11,167,173. 12.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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 Trading Up 0.2 %

RUSHA opened at $60.57 on Friday. The company has a market cap of $4.79 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 2.41 and a beta of 1.02. The company has a fifty day moving average price of $58.54 and a two-hundred day moving average price of $54.23. 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, Inc. has a 1-year low of $40.99 and a 1-year high of $65.15.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the business earned $0.96 EPS. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. Analysts predict that Rush Enterprises, Inc. will post 3.66 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Tuesday, November 12th. Rush Enterprises’s payout ratio is currently 19.10%.

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.