Insider Selling: Rush Enterprises, Inc. (RUSHA) SVP Sells $616,429.44 in Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) SVP Scott T. Anderson sold 12,144 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $50.76, for a total transaction of $616,429.44. Following the completion of the transaction, the senior vice president now directly owns 3,600 shares of the company’s stock, valued at approximately $182,736. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rush Enterprises, Inc. (NASDAQ:RUSHA) opened at $49.03 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.16 and a quick ratio of 0.29. The firm has a market cap of $1,950.00, a P/E ratio of 25.40, a PEG ratio of 1.58 and a beta of 1.17. Rush Enterprises, Inc. has a 52-week low of $29.68 and a 52-week high of $54.11.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.25. Rush Enterprises had a net margin of 1.74% and a return on equity of 8.82%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.21 billion. analysts forecast that Rush Enterprises, Inc. will post 2.07 EPS for the current year.

Rush Enterprises announced that its board has initiated a share repurchase plan on Thursday, November 30th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

A number of institutional investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System grew its holdings in Rush Enterprises by 5.0% in the third quarter. California Public Employees Retirement System now owns 39,285 shares of the company’s stock valued at $1,819,000 after purchasing an additional 1,885 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Rush Enterprises in the third quarter valued at approximately $236,000. Granahan Investment Management Inc. MA grew its holdings in Rush Enterprises by 1.8% in the third quarter. Granahan Investment Management Inc. MA now owns 206,724 shares of the company’s stock valued at $9,569,000 after purchasing an additional 3,748 shares during the period. Boothbay Fund Management LLC purchased a new stake in Rush Enterprises in the third quarter valued at approximately $1,430,000. Finally, Allianz Asset Management GmbH grew its stake in Rush Enterprises by 340.1% during the third quarter. Allianz Asset Management GmbH now owns 33,426 shares of the company’s stock worth $1,547,000 after buying an additional 25,831 shares during the period. Hedge funds and other institutional investors own 76.37% of the company’s stock.

A number of equities analysts have recently weighed in on RUSHA shares. Zacks Investment Research raised shares of Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $53.00 price objective for the company in a research report on Wednesday, October 18th. Stifel Nicolaus boosted their price objective on shares of Rush Enterprises from $41.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, October 30th. BMO Capital Markets reissued a “market perform” rating and issued a $50.00 price objective (up previously from $42.00) on shares of Rush Enterprises in a research report on Monday, October 30th. They noted that the move was a valuation call. ValuEngine raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Buckingham Research started coverage on shares of Rush Enterprises in a research report on Tuesday, September 5th. They issued a “neutral” rating and a $40.00 price objective for the company. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $46.00.

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About Rush Enterprises

Rush Enterprises, Inc is an integrated retailer of commercial vehicles and related services. The Company operates through the Truck Segment, which includes its operation of a regional network of commercial vehicle dealerships under the name Rush Truck Centers. Through its Rush Truck Centers, it offers services, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products.

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